7-9A-315
Section 7-9A-315 Secured party's rights on disposition of collateral and in proceeds. (a) Disposition
of collateral: Continuation of security interest or agricultural lien; proceeds. Except as
otherwise provided in this article and in Section 7-2-403(2): (1) a security interest or agricultural
lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition
thereof unless the secured party authorized the disposition free of the security interest
or agricultural lien; and (2) a security interest attaches to any identifiable proceeds of
collateral. (b) When commingled proceeds identifiable. Proceeds that are commingled with other
property are identifiable proceeds: (1) if the proceeds are goods, to the extent provided
by Section 7-9A-336; and (2) if the proceeds are not goods, to the extent that the secured
party identifies the proceeds by a method of tracing, including application of equitable principles,
that is permitted under law other than this...
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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-203
Section 7-9A-203 Attachment and enforceability of security interest; proceeds; supporting obligations;
formal requisites. (a) Attachment. A security interest attaches to collateral when it becomes
enforceable against the debtor with respect to the collateral, unless an agreement expressly
postpones the time of attachment. (b) Enforceability. Except as otherwise provided in subsections
(c) through (i), a security interest is enforceable against the debtor and third parties with
respect to the collateral only if: (1) value has been given; (2) the debtor has rights in
the collateral or the power to transfer rights in the collateral to a secured party; and (3)
one of the following conditions is met: (A) the debtor has authenticated a security agreement
that provides a description of the collateral and, if the security interest covers timber
to be cut, a description of the land concerned; (B) the collateral is not a certificated security
and is in the possession of the secured party under...
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7-9A-312
Section 7-9A-312 Perfection of certain security interests by filing; temporary perfection.
(a) Perfection by filing permitted. A security interest in chattel paper, negotiable documents,
instruments, or investment property may be perfected by filing. (b) Control or possession
of certain collateral. Except as otherwise provided in Section 7-9A-315(c) and (d) for proceeds:
(1) a security interest in a deposit account may be perfected only by control under Section
7-9A-314; (2) and except as otherwise provided in Section 7-9A-308(d), a security interest
in a letter-of-credit right may be perfected only by control under Section 7-9A-314; and (3)
a security interest in money may be perfected only by the secured party's taking possession
under Section 7-9A-313. (c) Goods covered by negotiable document. While goods are in the possession
of a bailee that has issued a negotiable document covering the goods: (1) a security interest
in the goods may be perfected by perfecting a security interest...
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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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7-9A-336
Section 7-9A-336 Commingled goods. (a) "Commingled goods." In this section, "commingled
goods" means goods that are physically united with other goods in such a manner that
their identity is lost in a product or mass. (b) No security interest in commingled goods
as such. A security interest does not exist in commingled goods as such. However, a security
interest may attach to a product or mass that results when goods become commingled goods.
(c) Attachment of security interest to product or mass. If collateral becomes commingled goods,
a security interest attaches to the product or mass. (d) Perfection of security interest.
If a security interest in collateral is perfected before the collateral becomes commingled
goods, the security interest that attaches to the product or mass under subsection (c) is
perfected. (e) Priority of security interest. Except as otherwise provided in subsection (f),
the other provisions of this part determine the priority of a security interest that attaches...

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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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7-9A-615
Section 7-9A-615 Application of proceeds of disposition; liability for deficiency and right
to surplus. (a) Application of proceeds. A secured party shall apply or pay over for application
the cash proceeds of disposition under Section 7-9A-610 in the following order to: (1) the
reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing,
and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's
fees and legal expenses incurred by the secured party; (2) the satisfaction of obligations
secured by the security interest or agricultural lien under which the disposition is made;
(3) the satisfaction of obligations secured by any subordinate security interest in or other
subordinate lien on the collateral if: (A) the secured party receives from the holder of the
subordinate security interest or other lien an authenticated demand for proceeds before distribution
of the proceeds is completed; and (B) in a case in which a...
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7-9A-507
Section 7-9A-507 Effect of certain events on effectiveness of financing statement. (a) Disposition.
A filed financing statement remains effective with respect to collateral that is sold, exchanged,
leased, licensed, or otherwise disposed of and in which a security interest or agricultural
lien continues, even if the secured party knows of or consents to the disposition. (b) Information
becoming seriously misleading. Except as otherwise provided in subsection (c) and Section
7-9A-508, a financing statement is not rendered ineffective if, after the financing statement
is filed, the information provided in the financing statement becomes seriously misleading
under Section 7-9A-506. (c) Change in debtor's name. If the name that a filed financing statement
provides for a debtor becomes insufficient as the name of the debtor under Section 7-9A-503(a)
so that the financing statement becomes seriously misleading under Section 7-9A-506: (1) the
financing statement is effective to perfect a...
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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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