Check whether a security interest in proceeds stays perfected
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the financing statement and the proceeds, list which of the three section 33 paths, if any, perfects the interest in the proceeds, and if none does, the date 5 business days after attachment. The tool does not say the interest is perfected.
- What the lawyer must review
- The lawyer decides whether the registration perfects the interest in the proceeds or whether a further step is needed before the 5 business days end. The regulations and section 153 were not opened.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the financing statement and the proceeds, list which of the three section 33 paths, if any, perfects the interest in the proceeds, and if none does, the date 5 business days after attachment. The tool does not say the interest is perfected. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Use temporary perfection only when subsection (1) does not perfect the interest in the proceeds. Count 5 business days from attachment to the proceeds.
- Currency, cheques, an ADI account, and an insurance or indemnity payment are a stated path. Other proceeds need a description that the registration actually covers.
- The regulations and section 153 were not opened. Do not invent the description those regulations require.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.