Question: According to the Uniform Commercial Code ( UCC ) , does the fact that the financing statement was filed four years ago affect the bank's
According to the Uniform Commercial Code UCC does the fact that the financing statement was filed four years ago affect the bank's claim?
Yes, since a financing statement is valid for three years and can beautomatically renewed in successive twoyear increments.
Yes, because a financing statement is valid for three years.
No because a financing statement is valid for five years.
No since a financing statement is valid indefinitely.
Yes, because a financing statement is valid for two years.
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