REG – Perfection of securities

  • Creator
    Topic
  • #192101
    Tux
    Member

    I have a discrepancy in info –

    Becker says that perfection of securities is done by taking possession – “Must take possession”

    Wiley says perfection of securities may be done by possession, control or filing.

    Which is correct – ?

    ONLY possession

    OR

    option of possession, control, or filing

    FAR - 86 - 2/27/14
    AUD - 75 - 5/29/14
    BEC - 80 - 8/31/14
    REG - 89 - 2/27/15
    Praise Jesus! I'm done!!

    Study resources:
    Becker
    Wiley test bank

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #647416
    Anonymous
    Inactive

    I think becker may have mentioned that perfection could be done in several ways, which includes possession, control, filing etc.

    #647417
    jeff
    Keymaster

    NINJA:

    Perfection of a security interest can occur by taking the collateral into possession, public filing of a financing statement, or by attachment alone to make the security interest effective against third parties.

    AUD - 79
    BEC - 80
    FAR - 76
    REG - 92
    Jeff Elliott, CPA (KS)
    NINJA CPA | NINJA CMA | NINJA CPE | Another71
Viewing 2 replies - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.