Jane Smith lives in Kansas City, Missouri and is looking for a loan so she can buy a new house near the Country Club Plaza. She works at Palm Bank, which is headquartered in Florida, but has a large branch in Kansas City. She frequently travels to Florida for business and even stays there at weeks at a time (at a hotel) which Palm Bank pays for as a business expense. She asks her employer for a loan for her new house and is able to secure it. Palm Bank loans her the money in exchange for a security interest in a valuable painting she has hanging in her living room. Jane signs a security agreement, granting Palm Bank a security interest in the painting to secure her repayment of the loan.
Palm Bank prepares a financing statement in order to perfect the interest. Where must it file to perfect its security interest?
1. In both Florida and Missouri
2. In Florida
3. In Missouri
4. No filing is necessary.