Section 440.9342 – Bank’s Right to Refuse to Enter Into or Disclose Existence of Control Agreement.
440.9342 Bank’s right to refuse to enter into or disclose existence of control agreement. Sec. 9342. This article does not require a bank to enter into an agreement of the kind described in section 9104(1)(b), even if its customer so requests or directs. A bank that has entered into such an agreement is not required […]
Section 440.9336 – Commingled Goods.
440.9336 Commingled goods. Sec. 9336. (1) As used 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 mass. (2) A security interest does not exist in commingled goods as such. However, a security interest may attach to […]
Section 440.9337 – Priority of Security Interests in Goods Covered by Certificate of Title.
440.9337 Priority of security interests in goods covered by certificate of title. Sec. 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 show that the goods are subject to the security interest or contain a […]
Section 440.9338 – Priority of Security Interests or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information.
440.9338 Priority of security interests or agricultural lien perfected by filed financing statement providing certain incorrect information. Sec. 9338. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 9516(2)(e) that is incorrect at the time the financing statement is filed, all of the following apply: […]
Section 440.9339 – Priority Subject to Subordination.
440.9339 Priority subject to subordination. Sec. 9339. This article does not preclude subordination by agreement by a person entitled to priority. History: Add. 2000, Act 348, Eff. July 1, 2001
Section 440.9340 – Effectiveness of Right of Recoupment or Setoff Against Deposit Account.
440.9340 Effectiveness of right of recoupment or setoff against deposit account. Sec. 9340. (1) Except as otherwise provided in subsection (3), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account. (2) Except as otherwise […]
Section 440.9341 – Bank’s Rights and Duties With Respect to Deposit Account.
440.9341 Bank’s rights and duties with respect to deposit account. Sec. 9341. Except as otherwise provided in section 9340(3), 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 or more of […]
Section 440.9332 – Transfer of Money; Transfer of Funds From Deposit Account.
440.9332 Transfer of money; transfer of funds from deposit account. Sec. 9332. (1) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party. (2) A transferee of funds from a deposit account takes the funds free […]
Section 440.9333 – Priority of Certain Liens Arising by Operation of Law.
440.9333 Priority of certain liens arising by operation of law. Sec. 9333. (1) As used in this section, “possessory lien” means an interest, other than a security interest or an agricultural lien, that meets all of the following: (a) It secures payment or performance of an obligation for services or materials furnished with respect to […]
Section 440.9334 – Priority of Security Interests in Fixtures and Crops.
440.9334 Priority of security interests in fixtures and crops. Sec. 9334. (1) A security interest under this article may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this article in ordinary building materials incorporated into an improvement on land. (2) This […]