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7-9A-338
Section 7-9A-338 Priority of security interest or agricultural lien perfected by filed financing
statement providing certain incorrect information. If a security interest or agricultural
lien is perfected by a filed financing statement providing information described in Section
7-9A-516(b)(5) which is incorrect at the time the financing statement is filed: (1) the security
interest or agricultural lien is subordinate to a conflicting perfected security interest
in the collateral to the extent that the holder of the conflicting security interest gives
value in reasonable reliance upon the incorrect information; and (2) a purchaser, other than
a secured party, of the collateral takes free of the security interest or agricultural lien
to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives
value and, in the case of tangible chattel paper, tangible documents, goods, instruments,
or a security certificate, receives delivery of the collateral. (Act...
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7-9A-301
Section 7-9A-301 Law governing perfection and priority of security interests. Except as otherwise
provided in Sections 7-9A-303 through 7-9A-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, while a debtor is located
in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection
or nonperfection, and the priority of a security interest in collateral. (2) While collateral
is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect
of perfection or nonperfection, and the priority of a possessory security interest in that
collateral. (3) Except as otherwise provided in paragraph (4), while tangible negotiable documents,
goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local
law of that jurisdiction governs: (A)...
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7-9A-322
Section 7-9A-322 Priorities among conflicting security interests in and agricultural liens
on same collateral. (a) General priority rules. Except as otherwise provided in this section,
priority among conflicting security interests and agricultural liens in the same collateral
is determined according to the following rules: (1) Conflicting perfected security interests
and agricultural liens rank according to priority in time of filing or perfection. Priority
dates from the earlier of the time a filing covering the collateral is first made or the security
interest or agricultural lien is first perfected, if there is no period thereafter when there
is neither filing nor perfection. (2) A perfected security interest or agricultural lien has
priority over a conflicting unperfected security interest or agricultural lien. (3) The first
security interest or agricultural lien to attach or become effective has priority if conflicting
security interests and agricultural liens are unperfected. (b)...
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7-9A-304
Section 7-9A-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 rules determine
a bank's jurisdiction for purposes of this part: (1) If an agreement between the bank and
the debtor governing the deposit account expressly provides that a particular jurisdiction
is the bank's jurisdiction for purposes of this part, this article, or the Uniform Commercial
Code, that jurisdiction is the bank's jurisdiction. (2) If paragraph (1) does not apply and
an agreement between the bank and its customer governing the deposit account expressly provides
that the agreement is governed by the law of a particular jurisdiction, that jurisdiction
is the bank's jurisdiction. (3) If neither paragraph (1) nor...
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7-9A-326
Section 7-9A-326 Priority of security interests created by new debtor. (a) Subordination of
security interest created by new debtor. Subject to subsection (b), a security interest that
is created by a new debtor in collateral in which the new debtor has or acquires rights and
is perfected solely by a filed financing statement that would be ineffective to perfect the
security interest but for the application of Section 7-9A-316(i)(1) or 7-9A-508 is subordinate
to a security interest in the same collateral which is perfected other than by such a filed
financing statement. (b) Priority under other provisions; multiple original debtors. The other
provisions of this part determine the priority among conflicting security interests in the
same collateral perfected by filed financing statements described in subsection (a). However,
if the security agreements to which a new debtor became bound as debtor were not entered into
by the same original debtor, the conflicting security interests rank...
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7-9A-316
Section 7-9A-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 Section 7-9A-301(1) or 7-9A-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 months after a change of the debtor's location to another jurisdiction; or (3) the
expiration of one year after a transfer of collateral to a person that thereby becomes a debtor
and is located in another jurisdiction. (b) Security interest perfected or unperfected under
law of new jurisdiction. If a security interest described in subsection (a) becomes perfected
under the law of the other jurisdiction before the earliest time or event described in that
subsection, it remains perfected thereafter. If the security interest does not become perfected
under the law of the other jurisdiction before the earliest...
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7-11-105
Section 7-11-105 Transition provision on change of place of filing. (1) A financing statement
or continuation statement filed prior to February 1, 1982, which shall not have lapsed prior
to February 1, 1982, shall remain effective for the period provided in the old U.C.C., but
not less than five years after the filing. (2) With respect to any collateral acquired by
the debtor subsequent to February 1, 1982, any effective financing statement or continuation
statement described in this section shall apply only if the filing or filings are in the office
or offices that would be appropriate to perfect the security interests in the new collateral
under the new U.C.C. (3) The effectiveness of any financing statement or continuation statement
filed prior to February 1, 1982, may be continued by a continuation statement as permitted
by the new U.C.C., except that if the new U.C.C. requires a filing in an office where there
was no previous financing statement, a new financing statement...
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7-9A-706
Section 7-9A-706 When initial financing statement suffices to continue effectiveness of financing
statement. (a) Initial financing statement in lieu of continuation statement. The filing of
an initial financing statement in the office specified in Section 7-9A-501 continues the effectiveness
of a financing statement filed before January 1, 2002, if: (1) the filing of an initial financing
statement in that office would be effective to perfect a security interest under this article;
(2) the pre-effective-date financing statement was filed in an office in another State or
another office in this State; and (3) the initial financing statement satisfies subsection
(c). (b) Period of continued effectiveness. The filing of an initial financing statement under
subsection (a) continues the effectiveness of the pre-effective-date financing statement:
(1) if the initial financing statement is filed before January 1, 2002, for the period provided
in former Section 7-9-403 with respect to a...
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7-9A-806
Section 7-9A-806 When initial financing statement suffices to continue effectiveness of financing
statement. (a) Initial financing statement in lieu of continuation statement. The filing of
an initial financing statement in the office specified in Section 7-9A-501 continues the effectiveness
of a financing statement filed before July 1, 2014, if: (1) the filing of an initial financing
statement in that office would be effective to perfect a security interest under Article 9A
as amended by Act 2014-374; (2) the pre-effective date financing statement was filed in an
office in another state; and (3) the initial financing statement satisfies subsection (c).
(b) Period of continued effectiveness. The filing of an initial financing statement under
subsection (a) continues the effectiveness of the pre-effective date financing statement:
(1) if the initial financing statement is filed before July 1, 2014, for the period provided
in unamended Section 7-9A-515 with respect to an initial...
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7-9A-521
Section 7-9A-521 Uniform form of written financing statement and amendment. (a) Initial financing
statement form. A filing office that accepts written records may not refuse to accept a written
initial financing statement in the following form and format except for a reason set forth
in Section 7-9A-516(b): UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A. NAME & PHONE OF
CONTACT AT FILER (optional) ___ B. E-MAIL CONTACT AT FILER (optional) ___ C. SEND ACKNOWLEDGMENT
TO: (Name and Address) ___ THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1. DEBTOR'S NAME:
Provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate
any part of the Debtor's name); if any part of the Individual Debtor's name will not fit in
line 1b, leave all of item 1 blank, check here [ ] and provide the Individual Debtor information
in item 10 of the Financing Statement Addendum (Form UCC1Ad) 1a....
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