These are FALSE statements - please CORRECT in a short sentence 1. The location of collateral is the most important focus of perfection under the Revised Article 9. 2. In terms of financial instruments such as stocks and bonds or notes, the secured party may not generally take possession of the instrument. 3. A secured creditor is limited to repossessing property for a period of 30 days after default.

These are FALSE statements - please CORRECT in a short sentence 1. The location of collateral is the most important focus of perfection under the Revised Article 9. 2. In terms of financial instruments such as stocks and bonds or notes, the secured party may not generally take possession of the instrument. 3. A secured creditor is limited to repossessing property for a period of 30 days after default.