A-One Loans, Inc., holds a security interest in kitchen and restaurant equipment owned by Brunch n' Lunch Bistro. A-One assigns its interest in the equipment to Commercial Investments Corporation. Commercial Investments becomes the secured party of record

Question

Quizplus · Accepted Answer

An assignment of a security interest must be filed with the appropriate state agency in order to perfect the interest. Therefore, option D is correct as Commercial Investments must file a uniform amendment form to become the secured party of record. The other options are incorrect as simply advising Brunch n' Lunch of the assignment does not perfect the security interest.