Fact Pattern 20-2
Technical 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 Technical Support was chartered.One year later,Technical Support changes its name to Vector,Inc.
-Refer to Fact Pattern 20-2.United Bank's perfection will remain effec?tive for
A)five years from the date of the name change.
B)five years from the date of the original filing.
C)six months from the date of the name change.
D)no time.

Question

Fact Pattern 20-2 
Technical 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 Technical Support was chartered.One year later,Technical Support changes its name to Vector,Inc.
-Refer to Fact Pattern 20-2.United Bank's perfection will remain effec?tive for
A)five years from the date of the name change.
B)five years from the date of the original filing.
C)six months from the date of the name change.
D)no time.

Quizplus · Accepted Answer

United Bank's perfection will remain effective for five years from the date of the original filing. A financing statement remains effective for five years after the filing date, regardless of any changes to the debtor's name or location.