A security interest in collateral that has been perfected in one state:
A)Will generally transfer to another state for a period of four months from the date that the property is brought into the state.
B)Will generally transfer to another state for a period of six months from the date that the property is brought into the state
C)Will generally transfer to another state for a period of one year from the date that the property is brought into the state
D)Will generally transfer to another state for a period of five years from the date that the property is brought into the state
E)Will not transfer to another state.

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code,a security interest in collateral that has been perfected in one state will generally transfer to another state for a period of four months from the date that the property is brought into the state.The secured party may re-perfect the interest in the new state.However,if the interest is not re-perfected,the secured party may lose its protection.

A Security Interest in Collateral That Has Been Perfected in One