Section 16
Continuous perfection of security interests in proceeds
ActIn forceProvision 16 of 87
Section 16
A security interest in proceeds is continuously perfected if the security interest in the original collateral is perfected by registration of a financing statement that contains a description of the original collateral, if the proceeds —
(a)
are of a kind that is within the description of the original collateral; or
(b)
are cash proceeds.