§ 25-9-314 – Perfection by control.
25-9-314. Perfection by control. (a) Perfection by control. – A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under G.S. 25-7-106, 25-9-104, 25-9-105, 25-9-106, or 25-9-107. (b) Specified collateral: time of perfection by control; continuation of perfection. – A security […]
§ 25-9-315 – Secured party's rights on disposition of collateral and in proceeds.
25-9-315. Secured party’s rights on disposition of collateral and in proceeds. (a) Disposition of collateral: continuation of security interest or agricultural lien; proceeds. – Except as otherwise provided in this Article and in G.S. 25-2-403(2): (1) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless […]
§ 25-9-316 – Effect of change in governing law.
25-9-316. Effect of change in governing law. (a) General rule: effect on perfection of change in governing law. – A security interest perfected pursuant to the law of the jurisdiction designated in G.S. 25-9-301(1) or G.S. 25-9-305(c) remains perfected until the earliest of: (1) The time perfection would have ceased under the law of that […]
§ 25-9-317 – Interests that take priority over or take free of security interest or agricultural lien.
25-9-317. Interests that take priority over or take free of security interest or agricultural lien. (a) Conflicting security interests and rights of lien creditors. – A security interest or agricultural lien is subordinate to the rights of: (1) A person entitled to priority under G.S. 25-9-322; and (2) Except as otherwise provided in subsection (e) […]
§ 25-9-318 – No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
25-9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers. (a) Seller retains no interest. – A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest […]
§ 25-9-303 – Law governing perfection and priority of security interests in goods covered by a certificate of title.
25-9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title. (a) Applicability of section. – This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods […]
§ 25-9-304 – Law governing perfection and priority of security interests in deposit accounts.
25-9-304. Law governing perfection and priority of security interests in deposit accounts. (a) Law of bank’s jurisdiction governs. – The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank. (b) Bank’s jurisdiction. – The following […]
§ 25-9-305 – Law governing perfection and priority of security interests in investment property.
25-9-305. Law governing perfection and priority of security interests in investment property. (a) Governing law: general rules. – Except as otherwise provided in subsection (c) of this section, the following rules apply: (1) While a security certificate is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or […]
§ 25-9-306 – Law governing perfection and priority of security interests in letter-of-credit rights.
25-9-306. Law governing perfection and priority of security interests in letter-of-credit rights. (a) Governing law: issuer’s or nominated person’s jurisdiction. – Subject to subsection (c) of this section, the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest […]
§ 25-9-307 – Location of debtor.
25-9-307. Location of debtor. (a) "Place of business." – In this section, "place of business" means a place where a debtor conducts its affairs. (b) Debtor’s location: general rules. – 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 […]