Bill lends Harvey $1,500 and the loan is secured by Harvey's furniture.If Bill files a financing statement on June 30, 2009 how long will it be effective?

Question

Quizplus · Accepted Answer

The financing statement is effective for five years from the date it is filed. If a continuation statement is filed within six months of the expiration date, the financing statement will be effective for another five years.

Bill Lends Harvey $1,500 and the Loan Is Secured by Harvey's