CHAPTER 3. Perfection and Priority

Chapter 3 added by Stats. 1999, Ch. 991, Sec. 35.

§§ 9301–9342 · 47 sections

§ 9301 Except as otherwise provided in Sections 9303 to 9306.2, inclusive, the following rules determine the law governing perfection, the effect of perfection or…
§ 9302 While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the…
§ 9303 (a) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of…
§ 9304 (a) The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit…
§ 9305 (a) Except as otherwise provided in subdivision (c), the following rules apply: (1) While a security certificate is located in a jurisdiction, the local law of…
§ 9306 (a) Subject to subdivision (c), the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or…
§ 9306.1 (a) Except as provided in subdivision (d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an…
§ 9306.2 (a) Except as provided in subdivision (b), the local law of the controllable electronic record’s jurisdiction specified in subdivisions (c) and (d) of Section…
§ 9307 (a) In this section, “place of business” means a place where a debtor conducts its affairs. (b) Except as otherwise provided in this section, the following…
§ 9308 (a) Except as otherwise provided in this section and in Section 9309, a security interest is perfected if it has attached and all of the applicable…
§ 9309 The following security interests are perfected when they attach: (1) A purchase money security interest in consumer goods, except as otherwise provided in…
§ 9310 (a) Except as otherwise provided in subdivision (b) and in subdivision (b) of Section 9312, a financing statement must be filed to perfect all security…
§ 9311 (a) Except as otherwise provided in subdivision (d), the filing of a financing statement is not necessary or effective to perfect a security interest in…
§ 9312 (a) A security interest in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, instruments, investment…
§ 9313 (a) Except as otherwise provided in subdivision (b), a secured party may perfect a security interest in goods, instruments, negotiable tangible documents, or…
§ 9314 (a) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents,…
§ 9314.1 (a) A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the…
§ 9315 (a) Except as otherwise provided in this division and in subdivision (2) of Section 2403, both of the following apply: (1) A security interest or agricultural…
§ 9316 (a) A security interest perfected pursuant to the law of the jurisdiction designated in subdivision (1) of Section 9301, subdivision (c) of Section 9305,…
§ 9317 (a) A security interest or agricultural lien is subordinate to the rights of both of the following: (1) A person entitled to priority under Section 9322. (2)…
§ 9318 (a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral…
§ 9319 (a) Except as otherwise provided in subdivision (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a…
§ 9320 (a) Except as otherwise provided in subdivision (e), a buyer in ordinary course of business takes free of a security interest created by the buyer’s seller,…
§ 9321 (a) In this section, “licensee in ordinary course of business” means a person that becomes a licensee of a general intangible in good faith, without knowledge…
§ 9321.1 A licensee of nonexclusive rights in a motion picture that is produced pursuant to one or more collective bargaining agreements governed by the laws of the…
§ 9322 (a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined…
§ 9323 (a) Except as otherwise provided in subdivision (c), for purposes of determining the priority of a perfected security interest under paragraph (1) of…
§ 9324 (a) Except as otherwise provided in subdivision (g), a perfected purchase money security interest in goods other than inventory or livestock has priority over…
§ 9325 (a) Except as otherwise provided in subdivision (b), a security interest created by a debtor is subordinate to a security interest in the same collateral…
§ 9326 (a) Subject to subdivision (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is…
§ 9326.1 A security interest in a controllable account, controllable electronic record, or controllable payment intangible held by a secured party having control of the…
§ 9327 The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having…
§ 9328 The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a secured party…
§ 9329 The following rules govern priority among conflicting security interests in the same letter-of-credit right: (1) A security interest held by a secured party…
§ 9330 (a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a…
§ 9331 (a) This division does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been…
§ 9332 (a) A transferee of tangible money takes the money free of a security interest if the transferee receives possession of the money without acting in collusion…
§ 9333 (a) In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien which satisfies all of the following…
§ 9334 (a) A security interest under this division may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does…
§ 9335 (a) A security interest may be created in an accession and continues in collateral that becomes an accession. (b) If a security interest is perfected when the…
§ 9336 (a) In this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or…
§ 9337 If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not…
§ 9338 If a security interest or agricultural lien is perfected by a filed financing statement providing information described in paragraph (5) of subdivision (b) of…
§ 9339 This division does not preclude subordination by agreement by a person entitled to priority.
§ 9340 (a) Except as otherwise provided in subdivision (c), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a…
§ 9341 Except as otherwise provided in subdivision (c) of Section 9340, and unless the bank otherwise agrees in a signed record, a bank’s rights and duties with…
§ 9342 This division does not require a bank to enter into an agreement of the kind described in paragraph (2) of subdivision (a) of Section 9104, even if its…