Learn about financing statements, the most common way a creditor may perfect its attached security interest.
In this lesson, we’ll learn more about filing a financing statement, the most common way for a creditor to perfect its attached security interest.
I. Perfection by Filing a Financing Statement
The financing statement is a simple document.
For a financing statement to perfect a security interest, it must be properly completed and filed in the appropriate state office. It’s the secured creditor’s responsibility to meet these two requirements.
To be properly completed, a financing...