Wanderlust gave a security interest in his Conestoga wagon to Iowa Bank who perfected its security interest by filing a financing statement with the appropriate officials in Iowa.What is true about the filing of this security interest.

Question

Quizplus · Accepted Answer

A financing statement for a security interest is generally effective for 5 years from the date of filing, after which it can be continued by filing a continuation statement.

Wanderlust Gave a Security Interest in His Conestoga Wagon to Iowa