Section 17
Temporary perfection of security interests in proceeds in other cases
(1)
Where the proceeds are not cash proceeds and not within the description of the collateral in the financing statement as referred to in section 16, a security interest in the proceeds shall be temporarily perfected within 10 working days after the proceeds arose.
Secured Transactions 22
(2)
If the secured party does not perfect the security interest by amending the financing statement to include the non-conforming proceeds within the 10 working days, the security interest in the proceeds will become unperfected.
Temporary perfection of security interests in negotiable instruments or investment securities 18.
A security interest in a negotiable instrument or an investment security that is perfected by possession shall remain perfected within 10
working days after the secured party made the negotiable instrument or investment security available to the debtor for the purposes of sale, exchange, presentation, collection, renewal or registration of a transfer.