Call's Farm & Ranch Supply, Inc., uses its inventory as collateral for a loan from Deland County Bank. The bank files a financing statement with the secretary of state in the state in which Call's was chartered. One year later, Call's changes its name to Big C's, Inc. Deland County Bank's perfection will remain effective for

Question

Business

Tripp

30 January, 01:02

Call's Farm & Ranch Supply, Inc., uses its inventory as collateral for a loan from Deland County Bank. The bank files a financing statement with the secretary of state in the state in which Call's was chartered. One year later, Call's changes its name to Big C's, Inc. Deland County Bank's perfection will remain effective for

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Answers (1)

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Danica Hood · Answer 1

four months after the date of the name change

Explanation:

Based on the information provided within the question it can be said that Deland County Bank's perfection will remain effective for four months after the date of the name change. A Bank's perfection refers to the steps or time that they need to take in order to continue making the security effective towards the party.