1. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. 2. Except as otherwise provided in subsection 3 and section 41-09-79, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 41-09-77. 3. If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under subsection 1 of section 41-09-74 so that the financing statement becomes seriously misleading under section 41-09-77: a. The financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and b. The financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after that event.
41-09-79. (9-508) Effectiveness of financing statement if new debtor becomes bound by security agreement. 1. Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral. 2. If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection 1 to be seriously misleading under section 41-09-77: a. The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under subsection 4 of section 41-09-13; and b. The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under subsection 4 of section 41-09-13 unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time. 3. This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under subsection 1 of section 41-09-78.