When a secured debt is paid, the secured party must file a termination statement regardless of the goods' classification.

Name: When a secured debt is paid, the secured party must file a termination statement regardless of the goods' classification.
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A termination statement is typically required to be filed by the secured party when a secured debt is paid off, but the requirement can vary depending on the jurisdiction and the type of collateral involved.

When a Secured Debt Is Paid, the Secured Party Must