Blake "The Snake" Mhessin, who lived in Missouri, entered into a security agreement covering the inventory of his Harley Davidson bike store with Missouri State Bank (MSB), dated January 1, 2007. MSB correctly perfected by filing a UCC-1 in Missouri on January 1, 2007. On December 1, 2011, Blake moved to Texas, where his eccentric, estranged uncle Mikey "The Brosef" Browens Feeblemeister has recently died, leaving Blake a substantial estate, subject to the condition that Blake changes his name to Feeblemeister, as Mikey had no living male relatives and wanted his illustrious name to live on. Upon arriving in Texas, Blake changed his name to Feeblemeister.
MSB, not knowing of Blake's actions, and realizing its perfection was about to lapse, filed a continuation statement in Missouri on December 20, 2011. On February 1, 2012, a loan officer at MSB sees Blake at a biker rally in Texas, learns he has moved to Texas, and has MSB file a UCC-1 in Texas later that same day.
Which statement correctly describes MSB's status as of January 15, 2012?
1. MSB had properly filed a continuation statement in Missouri, and thus MSB had 4 months from December 1, 2011 to reperfect in Texas and maintain continuous perfection back to January 1, 2007.
2. MSB's perfection lapsed when Blake changed his name in Texas, as its UCC-1 in Missouri became seriously misleading.
3. If MSB files a continuation statement in Texas before January 1, 2012, it will have four months from December 1, 2011 to reperfect in Texas and maintain continuous perfection back to January 1, 2007.
4. After January 1, 2012, MSB's became unperfected when its January 1, 2007 UCC-1 filing in Missouri lapsed; the continuation statement was not effective because Blake was no longer a resident of Missouri and thus Missouri law no longer governed perfection of MSB's interest.