436 Neb. Admin. Code, ch. 3, § 308 - Continuation statement

308.1 Continuation of lapse date. Upon the timely filing of one or more continuation statements by any secured party(ies) of record, the lapse date of the financing statement will be postponed for five years. The lapse date is postponed once notwithstanding the fact that more than one continuation statement is filed within a given 6-month period prior to a lapse date. Notwithstanding the immediate postponement of the lapse date with respect to one or more secured parties of record who file timely a continuation statement within a given 6-month period prior to a lapse date, such lapse date remains effective solely for purposes of determining whether or not a subsequent continuation statement filed in the same 6-month period is timely.

308.2 Status. The filing of a continuation statement will have no effect upon the status of any party to the financing statement or upon the status of the financing statement.

Notes

436 Neb. Admin. Code, ch. 3, § 308