CPA Reg Quiz
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BUSINESS LAW
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Under UCC Article 9, what is a 'fixture filing' and when is it required?
A
A fixture filing is required whenever a secured party takes possession of the collateral.
B
A fixture filing is a financing statement filed with the SEC for publicly traded companies.
C
A fixture filing is used to perfect a security interest in accounts receivable connected to real estate.
D
A fixture filing is a financing statement filed in the real property records of the county where the fixtures are located; it is used to perfect a security interest in goods that have become (or are to become) fixtures, and it allows the secured party to have priority over real estate interests such as mortgagees in the fixtures.
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