LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeCommercial CodeDiv. 9Ch. 7§ 9708 Financing Statement Filing Rules

§ 9708 Financing Statement Filing Rules

Commercial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 9708 Financing Statement Filing Rules

Key Takeaways

  • •You can file a paper to keep a loan agreement active if the lender says it's okay.
  • •This paper is needed to either keep an old loan agreement working or to make sure a new one is official.
  • •The rule started in 2001, so older loan agreements might need this to stay valid.

Example

You took out a loan to buy a car in 2000, and the bank wants to make sure the loan stays official.

The bank can file a paper to keep the loan agreement active, but they need your permission first. This makes sure everyone knows the bank still has a claim on the car if you don’t pay.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 9708 Financing Statement Filing Rules

A person may file an initial financing statement or a continuation statement under this chapter if both of the following conditions are satisfied: (1) The secured party of record authorizes the filing. (2) The filing is necessary under this chapter to do either of the following: (A) To continue the effectiveness of a financing statement filed before July 1, 2001. (B) To perfect or continue the perfection of a security interest. (Added by renumbering Section 9707 (as to be added by Stats. 1999, Ch. 991) by Stats. 2000, Ch. 1003, Sec. 50. Effective January 1, 2001. Addition (as Section 9707) and renumbering amendment operative July 1, 2001, by Stats. 1999, Ch. 991, Sec. 75, and Stats. 2000, Ch. 1003, Sec. 56.)

Last verified: January 23, 2026

Key Terms

initial financing statementcontinuation statementsecured party of recordsecurity interest

Related Statutes

  • § 9808 Financing Statement Filing Rules
  • § 9906 Financing Statement Filing Rules
  • § 2707 Seller Rights And Remedies
  • § 2711 Buyer Remedies For Nondelivery
  • § 2716 Buyer'S Remedies For Goods

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Commercial Code. Section 9708.
View Official Source