City Bank's financing statement in collateral owned by Delta Corporation will expire in less than a year. Filed timely, a continuation statement could extend the effectiveness of the financing statement for

Question

City Bank's financing statement in collateral owned by Delta Corporation will expire in less than a year. Filed timely, a continuation statement could extend the effectiveness of the financing statement for​

Quizplus · Accepted Answer

A continuation statement extends the effectiveness of a financing statement for an additional five years from the date the financing statement would have expired.

City Bank's Financing Statement in Collateral Owned by Delta Corporation