7-17-16  Status of parties upon filing a
termination statement. (a) The filing of a ter-
mination statement shall not affect the status of
any party to the financing statement.

 (b) A termination statement shall not affect the
status of the financing statement, and the financ-
ing statement shall remain active in the informa-
tion management system for one year after it
lapses. If the termination statement relates to a
financing statement against a transmitting utility,
the financing statement shall become inactive one
year after it is terminated with respect to all se-
cured parties of record.

 (c) A termination statement may be filed in the
filing office in which the financing statement was
filed before the effective date of L. 2000, Ch. 142,
unless an initial financing statement has been filed
pursuant to L. 2000, Ch. 142, Sec. 131(c), to be
codified as K.S.A. 84-9-706(c), in the office spec-
ified by law. (Authorized by L. 2000, Ch. 142, § 97;
implementing L. 2000, Ch. 142, § 84; effective
Oct. 12, 2001.)