(1) FILED RECORD EFFECTIVE IF AUTHORIZED. A filed record is effective only to the extent that it was filed by a person that may file it under s. 409.509. (2) AUTHORIZATION BY ONE SECURED PARTY OF RECORD. A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record. (3) CONTINUATION STATEMENT NOT TIMELY FILED. A continuation statement that is not filed within the 6-month period prescribed by s. 409.515 (4) is ineffective.
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