Section 9-503 – Name of Debtor and Secured Party
(a) A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in paragraph (3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization’s name on […]
Section 9-340 – Effectiveness of Right of Recoupment or Set-Off Against Deposit Account
(a) Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account. (b) Except as otherwise provided in subsection (c), the application of this article to a security interest in a […]
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 9-326 – Priority of Security Interests Created by New Debtor
(a) Subject to subsection (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of § 9–316(i)(1) or § 9–508 is subordinate […]
Section 9-327 – Priority of Security Interests in Deposit Account
The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having control of the deposit account under § 9-104 has priority over a conflicting security interest held by a secured party that does not have control. (2) Except as otherwise provided in paragraphs (3) […]
Section 9-328 – Priority of Security Interests in Investment Property
The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a secured party having control of investment property under § 9-106 has priority over a security interest held by a secured party that does not have control of the investment property. (2) Except as otherwise provided in […]
Section 9-329 – Priority of Security Interests in Letter-of-Credit
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 having control of the letter-of-credit right under § 9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control. (2) Security […]
Section 9-330 – Priority of Purchaser of Chattel Paper or Instrument
(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 security interest if: (1) In good faith and in the ordinary course of the purchaser’s business, the purchaser gives new value and takes possession of the chattel paper or obtains […]