A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:
1. a description of the collateral pursuant to section 554.9108; or
2. an indication that the financing statement covers all assets or all personal property.
Effective July 1, 2001; 2000 Acts, ch 1149, §187; former section repealed effective July 1, 2001; 2000 Acts, ch 1149, §185, 187; for law prior to July 1, 2001, see Code 2001