Section 9-504 – Indication of Collateral
A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) A description of the collateral pursuant to § 9-108; or (2) An indication that the financing statement covers all assets or all personal property.
Section 9-341 – Bank’s Rights and Duties With Respect to Deposit Account
Except as otherwise provided in § 9-340(c), and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by: (1) The creation, attachment, or perfection of a security interest in the deposit account; (2) The bank’s knowledge […]
Section 9-505 – Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions
(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in § 9-311(a), using the terms “consignor”, “consignee”, “lessor”, “lessee”, “bailor”, “bailee”, “licensor”, “licensee”, “owner”, “registered owner”, “buyer”, “seller”, or words […]
Section 9-342 – Bank’s Right to Refuse to Enter Into or Disclose Existence of Control Agreement
This title does not require a bank to enter into an agreement of the kind described in § 9-104(a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by […]
Section 9-506 – Effect of Errors or Omissions
(a) A financing statement substantially satisfying the requirements of this subtitle is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (b) Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with § […]
Section 9-401 – Alienability of Debtor’s Rights
(a) Except as otherwise provided in subsection (b) and §§ 9-406, 9-407, 9-408, and 9-409, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this title. (b) An agreement between the debtor and secured party which prohibits a transfer of the debtor’s rights in collateral or makes the […]
Section 9-507 – Effect of Certain Events on Effectiveness of Financing Statement
(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (b) Except as otherwise provided in subsection (c) and § 9–508, a financing statement […]
Section 9-402 – Secured Party Not Obligated on Contract of Debtor or in Tort
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor’s acts or omissions.
Section 9-403 – Agreement Not to Assert Defenses Against Assignee
(a) In this section, “value” has the meaning provided in § 3-303(a) of this article. (b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that […]
Section 9-404 – Rights Acquired by Assignee; Claims and Defenses Against Assignee
(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to: (1) All terms of the agreement between the account debtor and assignor and any defense or claim in recoupment arising from the transaction that gave rise […]