Danica borrows $1,000 from Evermore Bank,using her motorcycle as collateral.To perfect its security in?terest,the bank must file its financing statement with

Question

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Filing a financing statement with the secretary of state is necessary to perfect a security interest in personal property, which includes Danica's motorcycle. Filing with the county clerk, city treasurer, or ward alderman is not sufficient for perfecting a security interest in personal property.

Danica Borrows $1,000 from Evermore Bank,using Her Motorcycle as Collateral