U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS (2010)

Part 1. General Provisions

[Subpart 1. Short Title, Definitions, and General Concepts]

• § 9-101 . SHORT TITLE.
• § 9-102 . DEFINITIONS AND INDEX OF DEFINITIONS.
• § 9-103 . PURCHASE-MONEY SECURITY INTEREST; APPLICATION OF PAYMENTS; BURDEN OF ESTABLISHING.
• § 9-104 . CONTROL OF DEPOSIT ACCOUNT.
• § 9-105 . CONTROL OF ELECTRONIC CHATTEL PAPER.
• § 9-106 . CONTROL OF INVESTMENT PROPERTY.
• § 9-107 . CONTROL OF LETTER-OF-CREDIT RIGHT.
• § 9-108 . SUFFICIENCY OF DESCRIPTION.

[Subpart 2. Applicability of Article]

• § 9-109 . SCOPE.
• § 9-110 . SECURITY INTERESTS ARISING UNDER ARTICLE 2 OR 2A.

Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement

[Subpart 1. Effectiveness and Attachment]

• § 9-201 . GENERAL EFFECTIVENESS OF SECURITY AGREEMENT.
• § 9-202 . TITLE TO COLLATERAL IMMATERIAL.
• § 9-203 . ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST; PROCEEDS; SUPPORTING OBLIGATIONS; FORMAL REQUISITES.
• § 9-204 . AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES.
• § 9-205 . USE OR DISPOSITION OF COLLATERAL PERMISSIBLE.
• § 9-206 . SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET.

[Subpart 2. Rights and Duties]

• § 9-207 . RIGHTS AND DUTIES OF SECURED PARTY HAVING POSSESSION OR CONTROL OF COLLATERAL.
• § 9-208 . ADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL.
• § 9-209 . DUTIES OF SECURED PARTY IF ACCOUNT DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT.
• § 9-210 . REQUEST FOR ACCOUNTING; REQUEST REGARDING LIST OF COLLATERAL OR STATEMENT OF ACCOUNT.

Part 3. Perfection and Priority

[Subpart 1. Law Governing Perfection and Priority]

• § 9-301 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS.
• § 9-302 . LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS.
• § 9-303 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY A CERTIFICATE OF TITLE.
• § 9-304 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS.
• § 9-305 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
• § 9-306 . LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHTS.
• § 9-307 . LOCATION OF DEBTOR.
• § 9-308 . WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION.
• § 9-309 . SECURITY INTEREST PERFECTED UPON ATTACHMENT.
• § 9-310 . WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL LIEN; SECURITY INTERESTS AND AGRICULTURAL LIENS TO WHICH FILING PROVISIONS DO NOT APPLY.
• § 9-311 . PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN STATUTES, REGULATIONS, AND TREATIES.
• § 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.
• § 9-313 . WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS SECURITY INTEREST WITHOUT FILING.
• § 9-314 . PERFECTION BY CONTROL.
• § 9-315 . SECURED PARTY'S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS.
• § 9-316 . CONTINUED PERFECTION OF SECURITY INTEREST FOLLOWING CHANGE IN GOVERNING LAW.

[Subpart 3. Priority]

• § 9-317 . INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF UNPERFECTED SECURITY INTEREST OR AGRICULTURAL LIEN.
• § 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.
• § 9-319 . RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS AND PURCHASERS.
• § 9-320 . BUYER OF GOODS.
• § 9-321 . LICENSEE OF GENERAL INTANGIBLE AND LESSEE OF GOODS IN ORDINARY COURSE OF BUSINESS.
• § 9-322 . PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN AND AGRICULTURAL LIENS ON SAME COLLATERAL.
• § 9-323 . FUTURE ADVANCES.
• § 9-324 . PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS.
• § 9-325 . PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL.
• § 9-326 . PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR.
• § 9-327 . PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT.
• § 9-328 . PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
• § 9-329 . PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHT.
• § 9-330 . PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT.
• § 9-331 . PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS, AND SECURITIES UNDER OTHER ARTICLES; PRIORITY OF INTERESTS IN FINANCIAL ASSETS AND SECURITY ENTITLEMENTS UNDER ARTICLE 8.
• § 9-332 . TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT.
• § 9-333 . PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW.
• § 9-334 . PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS.
• § 9-335 . ACCESSIONS.
• § 9-336 . COMMINGLED GOODS.
• § 9-337 . PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE OF TITLE.
• § 9-338 . PRIORITY OF SECURITY INTEREST OR AGRICULTURAL LIEN PERFECTED BY FILED FINANCING STATEMENT PROVIDING CERTAIN INCORRECT INFORMATION.
• § 9-339 . PRIORITY SUBJECT TO SUBORDINATION.

[Subpart 4. Rights of Bank]

• § 9-340 . EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT ACCOUNT.
• § 9-341 . BANK'S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT.
• § 9-342 . BANK'S RIGHT TO REFUSE TO ENTER INTO OR DISCLOSE EXISTENCE OF CONTROL AGREEMENT.

Part 4. Rights of Third Parties

• § 9-401 . ALIENABILITY OF DEBTOR'S RIGHTS.
• § 9-402 . SECURED PARTY NOT OBLIGATED ON CONTRACT OF DEBTOR OR IN TORT.
• § 9-403 . AGREEMENT NOT TO ASSERT DEFENSES AGAINST ASSIGNEE.
• § 9-404 . RIGHTS ACQUIRED BY ASSIGNEE; CLAIMS AND DEFENSES AGAINST ASSIGNEE.
• § 9-405 . MODIFICATION OF ASSIGNED CONTRACT.
• § 9-406 . DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE.
• § 9-407 . RESTRICTIONS ON CREATION OR ENFORCEMENT OF SECURITY INTEREST IN LEASEHOLD INTEREST OR IN LESSOR'S RESIDUAL INTEREST.
• § 9-408 . RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE.
• § 9-409 . RESTRICTIONS ON ASSIGNMENT OF LETTER-OF-CREDIT RIGHTS INEFFECTIVE.

Part 5. Filing

[Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement]

• § 9-501 . FILING OFFICE.
• § 9-502 . CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT.
• § 9-503 . NAME OF DEBTOR AND SECURED PARTY.
• § 9-504 . INDICATION OF COLLATERAL.
• § 9-505 . FILING AND COMPLIANCE WITH OTHER STATUTES AND TREATIES FOR CONSIGNMENTS, LEASES, OTHER BAILMENTS, AND OTHER TRANSACTIONS.
• § 9-506 . EFFECT OF ERRORS OR OMISSIONS.
• § 9-507 . EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF FINANCING STATEMENT.
• § 9-508 . EFFECTIVENESS OF FINANCING STATEMENT IF NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT.
• § 9-509 . PERSONS ENTITLED TO FILE A RECORD.
• § 9-510 . EFFECTIVENESS OF FILED RECORD.
• § 9-511 . SECURED PARTY OF RECORD.
• § 9-512 . AMENDMENT OF FINANCING STATEMENT.
• § 9-513 . TERMINATION STATEMENT.
• § 9-514 . ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.
• § 9-515 . DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT.
• § 9-516 . WHAT CONSTITUTES FILING; EFFECTIVENESS OF FILING.
• § 9-517 . EFFECT OF INDEXING ERRORS.
• § 9-518 . CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD.

[Subpart 2. Duties and Operation of Filing Office]

• § 9-519 . NUMBERING, MAINTAINING, AND INDEXING RECORDS; COMMUNICATING INFORMATION PROVIDED IN RECORDS.
• § 9-520 . ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.
• § 9-521 . UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT.
• § 9-522 . MAINTENANCE AND DESTRUCTION OF RECORDS.
• § 9-523 . INFORMATION FROM FILING OFFICE; SALE OR LICENSE OF RECORDS.
• § 9-524 . DELAY BY FILING OFFICE.
• § 9-525 . FEES.
• § 9-526 . FILING-OFFICE RULES.
• § 9-527 . DUTY TO REPORT.

Part 6. Default

[Subpart 1. Default and Enforcement of Security Interest]

• § 9-601 . RIGHTS AFTER DEFAULT; JUDICIAL ENFORCEMENT; CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, OR PROMISSORY NOTES.
• § 9-602 . WAIVER AND VARIANCE OF RIGHTS AND DUTIES.
• § 9-603 . AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.
• § 9-604 . PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.
• § 9-605 . UNKNOWN DEBTOR OR SECONDARY OBLIGOR.
• § 9-606 . TIME OF DEFAULT FOR AGRICULTURAL LIEN.
• § 9-607 . COLLECTION AND ENFORCEMENT BY SECURED PARTY.
• § 9-608 . APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
• § 9-609 . SECURED PARTY'S RIGHT TO TAKE POSSESSION AFTER DEFAULT.
• § 9-610 . DISPOSITION OF COLLATERAL AFTER DEFAULT.
• § 9-611 . NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
• § 9-612 . TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
• § 9-613 . CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: GENERAL.
• § 9-614 . CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: CONSUMER-GOODS TRANSACTION.
• § 9-615 . APPLICATION OF PROCEEDS OF DISPOSITION; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
• § 9-616 . EXPLANATION OF CALCULATION OF SURPLUS OR DEFICIENCY.
• § 9-617 . RIGHTS OF TRANSFEREE OF COLLATERAL.
• § 9-618 . RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.
• § 9-619 . TRANSFER OF RECORD OR LEGAL TITLE.
• § 9-620 . ACCEPTANCE OF COLLATERAL IN FULL OR PARTIAL SATISFACTION OF OBLIGATION; COMPULSORY DISPOSITION OF COLLATERAL.
• § 9-621 . NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL.
• § 9-622 . EFFECT OF ACCEPTANCE OF COLLATERAL.
• § 9-623 . RIGHT TO REDEEM COLLATERAL.
• § 9-624 . WAIVER.

[Subpart 2. Noncompliance with Article]

• § 9-625 . REMEDIES FOR SECURED PARTY'S FAILURE TO COMPLY WITH ARTICLE.
• § 9-626 . ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE.
• § 9-627 . DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE.
• § 9-628 . NONLIABILITY AND LIMITATION ON LIABILITY OF SECURED PARTY; LIABILITY OF SECONDARY OBLIGOR.

Part 7. Transition

• § 9-701 . EFFECTIVE DATE.
• § 9-702 . SAVINGS CLAUSE.
• § 9-703 . SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE.
• § 9-704 . SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.
• § 9-705 . EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE DATE.
• § 9-706 . WHEN INITIAL FINANCING STATEMENT SUFFICES TO CONTINUE EFFECTIVENESS OF FINANCING STATEMENT.
• § 9-707 . AMENDMENT OF PRE-EFFECTIVE-DATE FINANCING STATEMENT.
• § 9-708 . PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT OR CONTINUATION STATEMENT.
• § 9-709 . PRIORITY.