Termination

Termination. A. Status of Parties – The filing of a termination shall have no effect upon the status of any party to the financing statement. B. Status of Financing Statement – After termination a financing statement shall remain active in the information management system until one year after it lapses, unless the termination relates to a financing statement that indicates it is filed against a transmitting utility, in which case the financing statement will become inactive one year after it is terminated with respect to all secured parties of record.