Or. Admin. Code § 160-040-0309 - Continuation
(1) Continuation of
lapse date. Upon the timely filing of one or more continuations by any secured
party(ies) of record, the lapse date of the financing statement shall be
extended for five years.
(2) Status
of parties. The filing of a continuation shall have no effect upon the status
of any party to the financing statement.
(3) Status of financing statement. Upon the
filing of a continuation statement, the status of the financing statement
remains active.
Notes
Stat. Auth.: ORS 79.0526
Stats. Implemented: ORS 79.0510 & 79.0526
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