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.

Question

Quizplus · Accepted Answer

Under the UCC, a financing statement is generally valid for five years from the date of filing, and it can be renewed for additional five-year periods.

Does the Fact That the Financing Statement Was Filed Four