Example 7: The facts are as in Example 6, except that the pre-effective-date financing statement covers "all accounts and general intangibles." Even though rights to payment for lottery winnings are "general intangibles" under former Article 9 and "accounts" under this Article, a post-effective-date continuation statement would continue the effectiveness of the pre-effective- date financing statement with respect to lottery winnings. There would be no need to amend the indication of collateral covered, inasmuch as the indication ("accounts") satisfies the requirements of this Article.

§9-1706.__When initial financing statement suffices to

continue effectiveness of financing statement

(1)__The filing of an initial financing statement in the office specified in section 9-1501 continues the effectiveness of a financing statement filed before this Article takes effect if:

(a)__The filing of an initial financing statement in that office would be effective to perfect a security interest under this Article;

(b)__The pre-effective-date financing statement was filed in an office in another state or another office in this State; and

(c)__The initial financing statement satisfies subsection (3).

(2)__The filing of an initial financing statement under subsection (1) continues the effectiveness of the pre-effective- date financing statement: