§9-1201. General effectiveness of security agreement (1). Except as otherwise provided in this Title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral and against creditors. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). A transaction subject […]
§9-1202. Title to collateral immaterial Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles or promissory notes, the provisions of this Article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. [PL 1999, c. 699, Pt. A, […]
§9-1203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites (1). A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, […]
§9-1204. After-acquired property; future advances (1). Except as otherwise provided in subsection (2), a security agreement may create or provide for a security interest in after-acquired collateral. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). A security interest does not attach under a term constituting […]
§9-1205. Use or disposition of collateral permissible (1). A security interest is not invalid or fraudulent against creditors solely because: (a). The debtor has the right or ability to: (i) Use, commingle or dispose of all or part of the collateral, including returned or repossessed goods; (ii) Collect, compromise, enforce or otherwise […]
§9-1206. Security interest arising in purchase or delivery of financial asset (1). A security interest in favor of a securities intermediary attaches to a person’s security entitlement if: (a). The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to […]
