Friday, March 07, 2008


Under the Secured Transactions Article of the UCC, which of the following statements is (are) correct regarding the filing of a financing statement?

I. A financing statement must be filed before attachment of the security interest can occur.
II. Once filed, a financing statement is effective for an indefinite period of time provided continuation statements are timely filed.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
Correct Ans - b

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