§ 25-9-203 – Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
25-9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. (a) Attachment. – A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. (b) Enforceability. – Except as otherwise provided in subsections (c) through (i) of […]
§ 25-9-204 – After-acquired property; future advances.
25-9-204. After-acquired property; future advances. (a) After-acquired collateral. – Except as otherwise provided in subsection (b) of this section, a security agreement may create or provide for a security interest in after-acquired collateral. (b) When after-acquired property clause not effective. – A security interest does not attach under a term constituting an after-acquired property clause […]
§ 25-9-205 – Use or disposition of collateral permissible.
25-9-205. Use or disposition of collateral permissible. (a) When security interest not invalid or fraudulent. – A security interest is not invalid or fraudulent against creditors solely because: (1) The debtor has the right or ability to: a. Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; b. […]
§ 25-9-206 – Security interest arising in purchase or delivery of financial asset.
25-9-206. Security interest arising in purchase or delivery of financial asset. (a) Security interest when person buys through securities intermediary. – A security interest in favor of a securities intermediary attaches to a person’s security entitlement if: (1) The person buys a financial asset through the securities intermediary in a transaction in which the person […]
§ 25-9-207 – Rights and duties of secured party having possession or control of collateral.
25-9-207. Rights and duties of secured party having possession or control of collateral. (a) Duty of care when secured party in possession. – Except as otherwise provided in subsection (d) of this section, a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case […]
§ 25-9-103 – Purchase-money security interest; application of payments; burden of establishing.
25-9-103. Purchase-money security interest; application of payments; burden of establishing. (a) Definitions. – In this section: (1) "Purchase-money collateral" means goods or software that secures a purchase-money obligation incurred with respect to that collateral; and (2) "Purchase-money obligation" means an obligation of an obligor incurred as all or part of the price of the collateral […]
§ 25-9-208 – Additional duties of secured party having control of collateral.
25-9-208. Additional duties of secured party having control of collateral. (a) Applicability of section. – This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. – […]
§ 25-9-103.1 – Production-money crops; production-money obligation; production-money security interest; burden of establishing.
25-9-103.1. Production-money crops; production-money obligation; production-money security interest; burden of establishing. (a) Production-money crops. – A security interest in crops is a production-money security interest to the extent that the crops are production-money crops. (b) Production-money obligation. – If the extent to which a security interest is a production-money security interest depends on the application […]
§ 25-9-209 – Duties of secured party if account debtor has been notified of assignment.
25-9-209. Duties of secured party if account debtor has been notified of assignment. (a) Applicability of section. – Except as otherwise provided in subsection (c) of this section, this section applies if: (1) There is no outstanding secured obligation; and (2) The secured party is not committed to make advances, incur obligations, or otherwise give […]
§ 25-9-104 – Control of deposit account.
25-9-104. Control of deposit account. (a) Requirements for control. – A secured party has control of a deposit account if: (1) The secured party is the bank with which the deposit account is maintained; (2) The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated […]