53. Errors in the financing statement

The registration of a financing statement shall become invalid if such statement contains an erroneous unique identification number which prevents the statement from being discovered. However, the validity of a financing statement shall not otherwise be affected due to any defect found therein, unless a reasonable person is likely to be misled materially by such defect.

A failure to provide a description of any collateral in a financing statement shall not make the registration ineffective in relation to any other collateral described in such financing statement.

For the purpose of this section, a “defect” includes any irregularity, omission or error, other than an erroneous unique identification number.