1(1) 2A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
33(a) 34There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
62(b) 63The debtor did not authorize the filing of the initial financing statement.
75(2) 76To comply with subsection (1), a secured party shall cause the secured party of record to file the termination statement:
96(a) 97Within 1 month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
129(b) 130If earlier, within 20 days after the secured party receives an authenticated demand from a debtor.
146(3) 147In cases not governed by subsection (1), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
204(a) 205Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
258(b) 259The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
286(c) 287The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor’s possession; or
310(d) 311The debtor did not authorize the filing of the initial financing statement.
323(4) 324Except as otherwise provided in s. 330679.510, 331upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in s. 361679.510, 362for purposes of ss. 366679.519(7)367and 368679.522(1), 369the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
