To perfect a security interest in a negotiable document,Second State Savings and Loan should

Question

Quizplus · Accepted Answer

In order to perfect a security interest in a negotiable document, Second State Savings and Loan should take possession of the instrument. This is because negotiable documents, such as promissory notes or bills of lading, are considered perfected once the secured party has possession of the document. Filing a financing amendment, securing a court order, or doing nothing will not result in perfecting the security interest in the negotiable document.

To Perfect a Security Interest in a Negotiable Document,Second State