Reliable Bank's financing statement in collateral owned by Sunsource Energy Corporation will expire in less than a year.With the filing of subsequent continuation statements,the effectiveness of the bank's statement can be continued
A)indefinitely.
B)for no longer than five years.
C)for no more than six months.
D)up to five years and six months.

Question

Quizplus · Accepted Answer

A continuation statement can be filed every five years to extend the effectiveness of the original financing statement indefinitely, as long as it is filed within six months before the expiration of the current statement.

Reliable Bank's Financing Statement in Collateral Owned by Sunsource Energy