When you arrive at work on November 9th, there is a voicemail waiting for you:
Mr. Fisher, I need your help. My name is Bill Boatman from Boatman's Bank in Chesterfield, Missouri. Last year, we loaned $10,000 to a guy named Spagnula. In return, he gave us a security interest in some football equipment and we filed a UCC-1 here in Missouri covering the equipment. Well, we just found out that he's now living in New Orleans and filed a Ch. 7 petition in bankruptcy court on November 7th. Now that he's living in a different state all of a sudden, I'm worried that the bankruptcy trustee is going to tell me that we don't have a perfected security interest in the equipment.
Which statement is correct?
1. If Spagnula moved to Louisiana on or after July 9th, Boatman's can still file before the end of the day on November 9, and the trustee cannot avoid its security interest.
2. Regardless of when Spagnula moved to Louisiana, the trustee can avoid Boatman's security interest in the equipment.
3. If Spagnula moved to Louisiana after July 9th, Boatman's may still file before the end of the day on November 9 and enforce its security interest if Spagnula stops making his payments.
4. Regardless of when Spagnula moved to Louisiana, Boatman's security interest is perfected and the trustee cannot avoid it.