7-9A-323
Section 7-9A-323 Future advances. (a) When priority based on time of advance. Except as otherwise
provided in subsection (c), for purposes of determining the priority of a perfected security
interest under Section 7-9A-322(a)(1), perfection of the security interest dates from the
time an advance is made to the extent that the security interest secures an advance that:
(1) is made while the security interest is perfected only: (A) under Section 7-9A-309 when
it attaches; or (B) temporarily under Section 7-9A-312(e), (f), or (g); and (2) is not made
pursuant to a commitment entered into before or while the security interest is perfected by
a method other than under Section 7-9A-309 or 7-9A-312(e), (f), or (g). (b) Lien creditor.
Except as otherwise provided in subsection (c), a security interest is subordinate to the
rights of a person that becomes a lien creditor to the extent that the security interest secures
an advance made more than 45 days after the person becomes a lien creditor...
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7-11-106
Section 7-11-106 Required refilings. (1) If a security interest is perfected or has priority
on February 1, 1982, as to all persons or as to certain persons without any filing or recording,
and if the filing of a financing statement would be required for the perfection or priority
of the security interest against those persons under the new U.C.C., the perfection and priority
rights of the security interest continue until three years after February 1, 1982. The perfection
will then lapse unless a financing statement is filed as provided in subsection (2) or unless
the security interest is perfected otherwise than by filing. (2) A financing statement may
be filed within six months before the perfection of a security interest would otherwise lapse.
Any such financing statement may be signed by either the debtor or the secured party. It must
identify the security agreement, statement or notice (however denominated in any statute or
other law repealed or modified by this act), state the...
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7-9A-206
Section 7-9A-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 is obligated to pay the purchase price to the securities intermediary at the time
of the purchase; and (2) the securities intermediary credits the financial asset to the buyer's
securities account before the buyer pays the securities intermediary. (b) Security interest
secures obligation to pay for financial asset. The security interest described in subsection
(a) secures the person's obligation to pay for the financial asset. (c) Security interest
in payment against delivery transaction. A security interest in favor of a person that delivers
a certificated security or other financial asset represented by a writing...
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7-9A-325
Section 7-9A-325 Priority of security interests in transferred collateral. (a) Subordination
of security interest in transferred collateral. Except as otherwise provided in subsection
(b), a security interest created by a debtor is subordinate to a security interest in the
same collateral created by another person if: (1) the debtor acquired the collateral subject
to the security interest created by the other person; (2) the security interest created by
the other person was perfected when the debtor acquired the collateral; and (3) there is no
period thereafter when the security interest is unperfected. (b) Limitation of subsection
(a) subordination. Subsection (a) subordinates a security interest only if the security interest:
(1) otherwise would have priority solely under Section 7-9A-322(a) or 7-9A-324; or (2) arose
solely under Section 7-2-711(3) or 7-2A-508(5). (Act 2001-481, p. 647, §1.)...
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7-9A-308
Section 7-9A-308 When security interest or agricultural lien is perfected; continuity of perfection.
(a) Perfection of security interest. Except as otherwise provided in this section and Section
7-9A-309, a security interest is perfected if it has attached and all of the applicable requirements
for perfection in Sections 7-9A-310 through 7-9A-316 have been satisfied. A security interest
is perfected when it attaches if the applicable requirements are satisfied before the security
interest attaches. (b) Perfection of agricultural lien. An agricultural lien is perfected
if it has become effective and all of the applicable requirements for perfection in Section
7-9A-310 have been satisfied. An agricultural lien is perfected when it becomes effective
if the applicable requirements are satisfied before the agricultural lien becomes effective.
(c) Continuous perfection; perfection by different methods. A security interest or agricultural
lien is perfected continuously if it is originally...
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7-9A-314
Section 7-9A-314 Perfection by control. (a) Perfection by control. A security interest in investment
property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic
documents may be perfected by control of the collateral under Section 7-7-106, 7-9A-104, 7-9A-105,
7-9A-106, or 7-9A-107. (b) Specified collateral: Time of perfection by control; continuation
of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit
rights, or electronic documents is perfected by control under Section 7-7-106, 7-9A-104, 7-9A-105,
or 7-9A-107 when the secured party obtains control and remains perfected by control only while
the secured party retains control. (c) Investment property: Time of perfection by control;
continuation of perfection. A security interest in investment property is perfected by control
under Section 7-9A-106 from the time the secured party obtains control and remains perfected
by control until: (1) the secured party...
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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge of the...
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7-9A-335
Section 7-9A-335 Accessions. (a) Creation of security interest in accession. A security interest
may be created in an accession and continues in collateral that becomes an accession. (b)
Perfection of security interest. If a security interest is perfected when the collateral becomes
an accession, the security interest remains perfected in the collateral. (c) Priority of security
interest. Except as otherwise provided in subsection (d), the other provisions of this part
determine the priority of a security interest in an accession. (d) Compliance with certificate-of-title
statute. A security interest in an accession is subordinate to a security interest in the
whole which is perfected by compliance with the requirements of a certificate-of-title statute
under Section 7-9A-311(b). (e) Removal of accession after default. After default, subject
to Part 6, a secured party may remove an accession from other goods if the security interest
in the accession has priority over the claims of every...
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7-8-104
Section 7-8-104 Acquisition of security or financial asset or interest therein. (a) A person
acquires a security or an interest therein, under this article, if: (1) the person is a purchaser
to whom a security is delivered pursuant to Section 7-8-301; or (2) the person acquires a
security entitlement to the security pursuant to Section 7-8-501. (b) A person acquires a
financial asset, other than a security, or an interest therein, under this article, if the
person acquires a security entitlement to the financial asset. (c) A person who acquires a
security entitlement to a security or other financial asset has the rights specified in Part
5, but is a purchaser of any security, security entitlement, or other financial asset held
by the securities intermediary only to the extent provided in Section 7-8-503. (d) Unless
the context shows that a different meaning is intended, a person who is required by other
law, regulation, rule, or agreement to transfer, deliver, present, surrender,...
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7-9A-310
Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security
interests and agricultural liens to which filing provisions do not apply. (a) General rule:
Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b),
a financing statement must be filed to perfect all security interests and agricultural liens.
(b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary
to perfect a security interest: (1) that is perfected under Section 7-9A-308(d), (e), (f),
or (g); (2) that is perfected under Section 7-9A-309 when it attaches; (3) in property subject
to a statute, regulation, or treaty described in Section 7-9A-311(a); (4) in goods in possession
of a bailee which is perfected under Section 7-9A-312(d)(1) or (2); (5) in certificated securities,
documents, goods, or instruments which is perfected without filing, control, or possession
under Section 7-9A-312(e), (f), or (g); (6) in collateral...
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