A security interest in money may be perfected by

Question

Quizplus · Accepted Answer

A security interest in money can be perfected by possession only. Unlike other types of collateral, money does not have a title or registration that can be filed or recorded. Therefore, the best way to perfect a security interest in money is to physically possess it or have control over it (such as through a bank account). Filing a financing statement or creating a purchase money security interest (PMSI) is not applicable to money, and redemption refers to paying off a debt or reclaiming property, not perfecting a security interest.

A Security Interest in Money May Be Perfected by