7-9A-513
Section 7-9A-513 Termination statement. (a) Consumer goods. A secured party shall cause
the secured party of record for a financing statement to file a termination statement for
the financing statement if the financing statement covers consumer goods and: (1) there is
no obligation secured by the collateral covered by the financing statement and no commitment
to make an advance, incur an obligation, or otherwise give value; or (2) the debtor did not
authorize the filing of the initial financing statement. (b) Time for compliance with subsection
(a). To comply with subsection (a), a secured party shall cause the secured party of record
to file the termination statement: (1) within one month after there is no obligation secured
by the collateral covered by the financing statement and no commitment to make an advance,
incur an obligation, or otherwise give value; or (2) if earlier, within 20 days after the
secured party receives an authenticated demand from a debtor. (c) Other collateral....
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In
this article: (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 earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...

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7-9A-625
Section 7-9A-625 Remedies for secured party's failure to comply with article. (a) Judicial
orders concerning noncompliance. If it is established that a secured party is not proceeding
in accordance with this article, a court may order or restrain collection, enforcement, or
disposition of collateral on appropriate terms and conditions. (b) Damages for noncompliance.
Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of
any loss caused by a failure to comply with this article. Loss caused by a failure to comply
may include loss resulting from the debtor's inability to obtain, or increased costs of, alternative
financing. (c) Persons entitled to recover damages; statutory damages in consumer-goods transaction.
Except as otherwise provided in Section 7-9A-628: (1) a person that, at the time of
the failure, was a debtor, was an obligor, or held a security interest in or other lien on
the collateral may recover damages under subsection (b) for its loss;...
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7-9A-324
Section 7-9A-324 Priority of purchase-money security interests. (a) General rule: Purchase-money
priority. Except as otherwise provided in subsection (g), a perfected purchase-money security
interest in goods other than inventory or livestock has priority over a conflicting security
interest in the same goods, and, except as otherwise provided in Section 7-9A-327,
a perfected security interest in its identifiable proceeds also has priority, if the purchase-money
security interest is perfected when the debtor receives possession of the collateral or within
20 days thereafter. (b) Inventory purchase-money priority. Subject to subsection (c) and except
as otherwise provided in subsection (g), a perfected purchase-money security interest in inventory
has priority over a conflicting security interest in the same inventory, has priority over
a conflicting security interest in chattel paper or an instrument constituting proceeds of
the inventory and in proceeds of the chattel paper, if so...
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7-2A-309
Section 7-2A-309 Lessor's and lessee's rights when goods become fixtures. (1) In this
section: (a) goods are "fixtures" when they become so related to particular
real estate that an interest in them arises under real estate law; (b) a "fixture filing"
is the filing, in the office where a record of a mortgage on the real estate would be filed
or recorded, of a financing statement covering goods that are or are to become fixtures and
conforming to the requirements of Section 7-9A-502(a) and (b); (c) a lease is a "purchase
money lease" unless the lessee has possession or use of the goods or the right to possession
or use of the goods before the lease agreement is enforceable; (d) a mortgage is a "construction
mortgage" to the extent it secures an obligation incurred for the construction of an
improvement on land including the acquisition cost of the land, if the recorded writing so
indicates; and (e) "encumbrance" includes real estate mortgages and other liens
on real estate and all other...
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7-9A-502
Section 7-9A-502 Contents of financing statement; record of mortgage as financing statement;
time of filing financing statement. (a) Sufficiency of financing statement. Subject to subsection
(b), a financing statement is sufficient only if it: (1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of the secured party; and (3)
indicates the collateral covered by the financing statement. (b) Real-property-related financing
statements. Except as otherwise provided in Section 7-9A-501(b), to be sufficient,
a financing statement that covers as-extracted collateral or timber to be cut, or which is
filed as a fixture filing and covers goods that are or are to become fixtures, must satisfy
subsection (a) and also: (1) indicate that it covers this type of collateral; (2) indicate
that it is to be filed in the real property records; (3) provide a description of the real
property to which the collateral is related sufficient to give constructive...
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7-9A-621
Section 7-9A-621 Notification of proposal to accept collateral. (a) Persons to which
proposal to be sent. A secured party that desires to accept collateral in full or partial
satisfaction of the obligation it secures shall send its proposal to: (1) any person from
which the secured party has received, before the debtor consented to the acceptance, an authenticated
notification of a claim of an interest in the collateral; (2) any other secured party or lienholder
that, 10 days before the debtor consented to the acceptance, held a security interest in or
other lien on the collateral perfected by the filing of a financing statement that: (A) identified
the collateral; (B) was indexed under the debtor's name as of that date; and (C) was filed
in the office or offices in which to file a financing statement against the debtor covering
the collateral as of that date; and (3) any other secured party that, 10 days before the debtor
consented to the acceptance, held a security interest in the...
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7-9A-619
Section 7-9A-619 Transfer of record or legal title. (a) "Transfer statement."
In this section, "transfer statement" means a record authenticated by a secured
party stating: (1) that the debtor has defaulted in connection with an obligation secured
by specified collateral; (2) that the secured party has exercised its post-default remedies
with respect to the collateral; (3) that, by reason of the exercise, a transferee has acquired
the rights of the debtor in the collateral; and (4) the name and mailing address of the secured
party, debtor, and transferee. (b) Effect of transfer statement. A transfer statement entitles
the transferee to the transfer of record of all rights of the debtor in the collateral specified
in the statement in any official filing, recording, registration, or certificate-of-title
system covering the collateral. If a transfer statement is presented with the applicable fee
and request form to the official or office responsible for maintaining the system, the...

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7-9A-611
Section 7-9A-611 Notification before disposition of collateral. (a) "Notification
date." In this section, "notification date" means the earlier of the
date on which: (1) a secured party sends to the debtor and any secondary obligor an authenticated
notification of disposition; or (2) the debtor and any secondary obligor waive the right to
notification. (b) Notification of disposition required. Except as otherwise provided in subsection
(d), a secured party that disposes of collateral under Section 7-9A-610 shall send
to the persons specified in subsection (c) a reasonable authenticated notification of disposition.
(c) Persons to be notified. To comply with subsection (b), the secured party shall send an
authenticated notification of disposition to: (1) the debtor; (2) any secondary obligor; and
(3) if the collateral is other than consumer goods: (A) any other person from which the secured
party has received, before the notification date, an authenticated notification of a claim
of an...
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7-9A-317
Section 7-9A-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 Section 7-9A-322; and (2) except as otherwise provided in subsection (e), a person
that becomes a lien creditor before the earlier of the time: (A) the security interest or
agricultural lien is perfected; or (B) one of the conditions specified in Section 7-9A-203(b)(3)
is met and a financing statement covering the collateral is filed. (b) Buyers that receive
delivery. Except as otherwise provided in subsection (e), a buyer, other than a secured party,
of tangible chattel paper, tangible documents, goods, instruments, or a certificated security
takes free of a security interest or agricultural lien if the buyer gives value and receives
delivery of the collateral without knowledge of the security interest...
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