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Which of the following is an INCORRECT statement regarding after-acquired property, sales proceeds, and future advances? OA. A new security agreement does not have
Which of the following is an INCORRECT statement regarding after-acquired property, sales proceeds, and future advances? OA. A new security agreement does not have to be executed each time a future advance is taken against a continuing or revolving line of credit OB. After-acquired property is property that the debtor acquires after the security agreement is executed. OC. A debtor may establish a continuing or revolving line of credit at a bank. OD. A floating lien cannot attach to after-acquired property, sale proceeds, or future advances OE. Unless otherwise stated in a security agreement, if a debtor sells, exchanges, or disposes of collateral subject to such an agreement, the secured party automatically has the right to receive the sale proceeds of the sale, exchange, or disposition.
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