Fact Pattern 29-1B
Tech Support Corporation uses its office equipment as collat?eral for a loan from United Bank. The bank files a financing statement with the secretary of state in the state in which Tech Support was chartered. One year later, Tech Support changes its name to Vector, Inc.
-Refer to Fact Pattern 29-1B. To continue the effectiveness of its perfected interest, United Bank must file
A) a continuation statement after the original filing expires.
B) an amendment to the financing statement before the period expires.
C) a new financing statement immediately.
D) a notice of repossession with all interested creditors.

Question

Fact Pattern 29-1B 
Tech Support Corporation uses its office equipment as collat?eral for a loan from United Bank. The bank files a financing statement with the secretary of state in the state in which Tech Support was chartered. One year later, Tech Support changes its name to Vector, Inc.
-Refer to Fact Pattern 29-1B. To continue the effectiveness of its perfected interest, United Bank must file
A) a continuation statement after the original filing expires.
B) an amendment to the financing statement before the period expires.
C) a new financing statement immediately.
D) a notice of repossession with all interested creditors.

Quizplus · Accepted Answer

United Bank must file an amendment to the financing statement before the period expires to reflect the debtor's name change and maintain the effectiveness of its perfected interest.