Because the financing statement is intended as notice to third parties, it must be filed in a public place.

Question

Quizplus · Accepted Answer

The financing statement is filed in a public place so that it can serve as notice to third parties, informing them of the creditor's security interest in the collateral. This helps protect the creditor's priority rights in case other parties claim an interest in the same collateral. Therefore, it is true that the financing statement must be filed in a public place.

Because the Financing Statement Is Intended as Notice to Third