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Afton Jackson
on Nov 28, 2024

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Improper filing of a financing statement can render a security interest unperfected.

Financing Statement

A document filed to give public notice of a secured party's interest in the personal property of a debtor, usually in relation to a secured transaction.

Improper Filing

The submission of legal or official documents in a manner that does not comply with prescribed requirements or regulations.

Unperfected

Refers to a security interest or lien that has not been properly recorded or filed according to law, thus not fully enforceable against third parties.

  • Recognize the importance of submitting financing statements and the consequences of incorrect filing.
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Reagan MiddletonDec 04, 2024
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