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Section 400.9-301 – Law governing perfection and priority of security interests.

Effective – 01 Jul 2001 400.9-301. Law governing perfection and priority of security interests. — Except as otherwise provided in sections 400.9-303 through 400.9-306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral: (1) Except as otherwise provided in this section, […]

Section 400.9-302 – Law governing perfection and priority of agricultural liens.

Effective – 01 Jul 2001 400.9-302. Law governing perfection and priority of agricultural liens. — While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. ­­——– (L. 1963 p. 503 § 9-302, […]

Section 400.9-307 – Location of debtor.

Effective – 28 Aug 2013 400.9-307. Location of debtor. — (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 rules determine a debtor’s location: (1) A debtor who is an individual is located at the individual’s principal residence; […]

Section 400.9-309 – Security interest perfected upon attachment.

Effective – 01 Jul 2001 400.9-309. Security interest perfected upon attachment. — The following security interests are perfected when they attach: (1) A purchase-money security interest in consumer goods, except as otherwise provided in section 400.9-311(b) with respect to consumer goods that are subject to a statute or treaty described in section 400.9-311(a); (2) An […]

Section 400.9-310 – When filing required to perfect security interest or agricultural lien — security interests and agricultural liens to which filing provisions do not apply.

Effective – 01 Jul 2001 400.9-310. When filing required to perfect security interest or agricultural lien — security interests and agricultural liens to which filing provisions do not apply. — (a) Except as otherwise provided in subsection (b) and section 400.9-312(b), a financing statement must be filed to perfect all security interests and agricultural liens. […]

Section 400.9-312 – Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money — perfection by permissive filing — temporary perfection without filing or transfer of possession.

Effective – 01 Jul 2001 400.9-312. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money — perfection by permissive filing — temporary perfection without filing or transfer of possession. — (a) A security interest in chattel paper, negotiable documents, instruments, or investment property […]

Section 400.9-314 – Perfection by control.

Effective – 01 Jul 2001 400.9-314. Perfection by control. — (a) A security interest in investment property, deposit accounts, letter-of-credit rights, or electronic chattel paper may be perfected by control of the collateral under section 400.9-104, 400.9-105, 400.9-106 or 400.9-107. (b) A security interest in deposit accounts, electronic chattel paper, or letter-of-credit rights is perfected […]

Section 400.9-315 – Secured party’s rights on disposition of collateral and in proceeds.

Effective – 01 Jul 2001 400.9-315. Secured party’s rights on disposition of collateral and in proceeds. — (a) Except as otherwise provided in this article and in section 400.2-403(2): (1) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized in writing […]

Section 400.9-316 – Effect of change in governing law.

Effective – 28 Aug 2013 400.9-316. Effect of change in governing law. — (a) A security interest perfected pursuant to the law of the jurisdiction designated in section 400.9-301(1) or 400.9-305(c) remains perfected until the earliest of: (1) The time perfection would have ceased under the law of that jurisdiction; (2) The expiration of four […]

Section 400.9-320 – Buyer of goods.

Effective – 01 Jul 2001 400.9-320. Buyer of goods. — (a) Except as otherwise provided in subsection (e), a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer’s seller, even if the security interest […]