John decides he needs more cash and goes to First Bank. First Bank agrees to loan him $150,000 in exchange for a security interest in all of John's separators. Which of the following statements is true?

a. First Bank could sell all of John's separators even though Second Bank perfected first
b. First Bank could sell John's separators but only if it filed its security interest timely
c. Only Second Bank has the right to sell the separators since they perfected first
d. Second Bank's security interest never attached since John did not own the separators at the time he took out the loan