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Does the Fact That the Financing Statement Was Filed Four

Question 78

Multiple Choice

Does the fact that the financing statement was filed four years ago affect the bank's claim?


A) No, under the UCC, a financing statement is valid indefinitely.
B) No, under the UCC, a financing statement is valid for five years.
C) Yes, under the UCC, a financing statement is valid for three years.
D) Yes, under the UCC, a financing statement is valid for two years.
E) Yes, under the UCC, a financing statement is valid for three years and can be automatically renewed for two year increments.

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