Section 28-9-101 – SHORT TITLE.
28-9-101. SHORT TITLE. This chapter may be cited as "Uniform Commercial Code — Secured Transactions." History: [28-9-101, added 2001, ch. 208, sec. 2, p. 708.]
Section 28-9-102 – DEFINITIONS AND INDEX OF DEFINITIONS.
28-9-102. DEFINITIONS AND INDEX OF DEFINITIONS. (a) In this chapter: (1) "Accession" means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. (2) "Account," except as used in "account for," means a right to payment of a monetary obligation, whether or not […]
Section 28-9-103 – PURCHASE-MONEY SECURITY INTEREST — APPLICATION OF PAYMENTS — BURDEN OF ESTABLISHING.
28-9-103. PURCHASE-MONEY SECURITY INTEREST — APPLICATION OF PAYMENTS — BURDEN OF ESTABLISHING. (a) 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 […]
Section 28-9-104 – CONTROL OF DEPOSIT ACCOUNT.
28-9-104. CONTROL OF DEPOSIT ACCOUNT. (a) 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 by the secured party […]
Section 28-9-105 – CONTROL OF ELECTRONIC CHATTEL PAPER.
28-9-105. CONTROL OF ELECTRONIC CHATTEL PAPER. (a) A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned. (b) A system satisfies subsection (a) of this section, and […]
Section 28-9-106 – CONTROL OF INVESTMENT PROPERTY.
28-9-106. CONTROL OF INVESTMENT PROPERTY. (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 28-8-106. (b) A secured party has control of a commodity contract if: (1) The secured party is the commodity intermediary with which the commodity contract is carried; or (2) The commodity customer, […]
Section 28-9-107 – CONTROL OF LETTER OF CREDIT RIGHT.
28-9-107. CONTROL OF LETTER OF CREDIT RIGHT. A secured party has control of a letter of credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section […]
Section 28-9-108 – SUFFICIENCY OF DESCRIPTION.
28-9-108. SUFFICIENCY OF DESCRIPTION. (a) Except as otherwise provided in subsections (c), (d) and (e) of this section, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described. (b) Except as otherwise provided in subsection (d) of this section, a description of collateral […]
Section 28-9-109 – SCOPE.
28-9-109. SCOPE. (a) Except as otherwise provided in subsections (c) and (d), this chapter applies to: (1) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (2) An agricultural lien; (3) A sale of accounts, chattel paper, payment intangibles or promissory notes; (4) A consignment; (5) […]
Section 28-9-110 – SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE 28, IDAHO CODE.
28-9-110. SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE 28, IDAHO CODE. A security interest arising under section 28-2-401, 28-2-505, 28-2-711(3) or 28-12-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods: (1) The security interest is enforceable, even if section 28-9-203(b)(3) has not been satisfied; (2) Filing is […]