(1) An initial notice may be amended by one or more than one amendment. An amendment notice to the initial notice shall contain the following matters:
(a) the initial notice has to be identified by its file number;
(b) the security holder on the notice who authorizes the amendment
has to be identified;
(c) that the matter intended for an amendment to the notice has to be
clearly mentioned; and
(d) all information required to be mentioned in an initial notice has to
be provided, completely restating the notice in a manner that
reflects the amended state of the notice.
(2) If a security giver gives authorization by a signed record and files
an amendment notice and such amendment notice includes collateral covered
by a notice or includes a security giver to a notice, that amendment shall be
effective. By concluding a security agreement, a security giver shall be deemed
to authorize the filing of an amendment covering the collateral described in the
security agreement, and proceeds of the collateral, whether or not the security
agreement expressly covers proceeds.
(3) If a notice contains more than one person as the security holder,
each of such persons may authorize anyone to file an amendment.
(4) If a notice contains more than one person as the security holder,
the amendment shall be effective if any one security holder authorizes the
filing, by a signed record.
(5) An amendment authorized by one security holder on the notice
shall not affect the rights of another security holder mentioned in the notice.
(6) An amendment that includes collateral shall be effective as to the
added collateral only from the date of the filing of the amendment.
(7) Where an amendment is filed to include a security giver, the
amendment shall be effective as to the included security giver only from the
date of the filing of the amendment.
(8) Any amendment, other than an amendment to include collateral
or a security giver, shall be effective only if a security holder on the notice
authorizes the filing, by a signed record.
(9) An amendment shall be ineffective if it purports to delete all
security holders mentioned in the notice or fails to provide the name of a new
security holder instead of the security holders so deleted or purports to delete
the names of all security givers mentioned in the notice or fails to provide the
name of a new security giver instead of the security givers so deleted.
(10) The filing of an amendment shall not extend the validity period
of a notice.