Assume the financing statement is not effective. Does Slippup Bank have an enforceable security interest?a) No. The financing statement is what makes the security interest enforceable.b) No. Slippup Bank is an unsecured creditor.c) Yes. Slippup Bank has a security interest that is enforceable against Maximilian M. Milztlaf, but would probably lose its security interest if Milztlaf went into bankruptcy or another of Milztlaf's creditors got a judgment lien on the art collection.d) Yes. The security agreement is all that is necessary to give Slippup Bank rights in the art collection that will stand up against anyone else.

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