City Bank's financing statement in collateral owned by Delta Waters Corporation will expire in less than a year. Filed timely, a continuation statement could extend the effectiveness of the financing statement for
A) one year.
B) two years.
C) five years.
D) ten years.

Question

Quizplus · Accepted Answer

A continuation statement, when filed timely, extends the effectiveness of a financing statement for an additional five years.

City Bank's Financing Statement in Collateral Owned by Delta Waters