Financing statements where name is not exact match of drivers license (say no middle initial)
the conventional wisdom is that after the new july 1st rules go into effect we should be ok until we file a continuation at which time we must conform to the drivers license.

But i am troubled by a webinar from the ICBA where the presenter says you have a maximum of one year July 2015.
he is obviously coming from:


http://extranet.ali.org/directory/files/UCC9%20amendments%202010.pdf

9-803 (b) Continuing perfection: perfection requirements not satisfied. ...if immediately before this act takes effect a security intereste is a perfected security interest, but the applicable requirements for perfection under Article 9 as amended by this act are not satisfied when this act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfecton under Article 9 as amended by the act are satisfied within one year after this Act takes effect.

what is this one year provision?