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0 tracked cards Supplemental - Not MEE July 2026

A secured party has a perfected security interest in inventory. The debtor sells inventory and receives identifiable proceeds.
Which statement best describes perfection in the proceeds?

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Proceeds are perfected only if the debtor signs a new security agreement after each sale. A perfected security interest in collateral generally remains perfected in identifiable proceeds for at least 20 days, and may continue beyond that if an Article 9 continuation rule applies. A proceeds interest is perfected only if the secured party physically repossesses the original collateral before sale. Perfection in proceeds never occurs automatically.

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