What should the bank have done to terminate its interest in any property of Molly?

Question

Quizplus · Accepted Answer

A termination statement is an amendment to a financing statement that provides that the debtor has no obligation to the secured party [9-513(a)]. After repayment by the debtor, the secured party has one month to file the termination statement. However, if the debtor makes a written request to the secured party to file the termination statement, the secured party has 20 days to file the termination statement [9-513(b)].

What Should the Bank Have Done to Terminate Its Interest