REVISION OF UNIFORM COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
"© The American Law Institute & the National Conference of Commissioners on Uniform State Laws.  Reproduced with permission for educational purposes only.  All rights reserved."

PART 1 - GENERAL PROVISIONS
                     
[SUBPART 1. SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS]
                      [SUBPART 2. APPLICABILITY OF ARTICLE]
PART 2 - EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF                     PARTIES TO SECURITY AGREEMENT

                      [SUBPART 1. EFFECTIVENESS AND ATTACHMENT]
                      [SUBPART 2. RIGHTS AND DUTIES]
PART 3 - PERFECTION AND PRIORITY
                     
[SUBPART 1. LAW GOVERNING PERFECTION AND PRIORITY]
                      [SUBPART 2. PERFECTION]
                      [SUBPART 3. PRIORITY]
                      [SUBPART 4. RIGHTS OF BANK]
PART 4 - RIGHTS OF THIRD PARTIES
PART 5 - FILING
                     
[SUBPART 1. FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT]
                      [SUBPART 2. DUTIES AND OPERATION OF FILING OFFICE]
PART 6 - DEFAULT
                     
[SUBPART 1. DEFAULT AND ENFORCEMENT OF SECURITY INTEREST]
                      [SUBPART 2. NONCOMPLIANCE WITH ARTICLE]
PART 7 - TRANSITION [Omitted]

PART 1 - GENERAL PROVISIONS

[SUBPART 1. SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS]

SECTION 9-101. SHORT TITLE

SECTION 9-102. DEFINITIONS AND INDEX OF DEFINITIONS

SECTION 9-103. PURCHASE-MONEY SECURITY INTEREST; APPLICATION OF PAYMENTS; BURDEN OF ESTABLISHING

SECTION 9-104. CONTROL OF DEPOSIT ACCOUNT

SECTION 9-105. CONTROL OF ELECTRONIC CHATTEL PAPER

SECTION 9-106. CONTROL OF INVESTMENT PROPERTY

SECTION 9-107. CONTROL OF LETTER-OF-CREDIT RIGHT

SECTION 9-108. SUFFICIENCY OF DESCRIPTION

[SUBPART 2. APPLICABILITY OF ARTICLE]

SECTION 9-109. SCOPE

SECTION 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]

SECTION 9-201. GENERAL EFFECTIVENESS OF SECURITY AGREEMENT

SECTION 9-202. TITLE TO COLLATERAL IMMATERIAL

SECTION 9-203. ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST; PROCEEDS; SUPPORTING OBLIGATIONS; FORMAL REQUISITES

SECTION 9-204. AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES

SECTION 9-205. USE OR DISPOSITION OF COLLATERAL PERMISSIBLE

SECTION 9-206. SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET

[SUBPART 2. RIGHTS AND DUTIES]
        

SECTION 9-207. RIGHTS AND DUTIES OF SECURED PARTY HAVING POSSESSION OR CONTROL OF COLLATERAL

SECTION 9-208. ADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL

SECTION 9-209. DUTIES OF SECURED PARTY IF ACCOUNT DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT

SECTION 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]

SECTION 9-301. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS

SECTION 9-302. LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS

SECTION 9-303. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS  IN GOODS COVERED BY A CERTIFICATE OF TITLE

SECTION 9-304. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS

SECTION 9-305. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY

SECTION 9-306. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHTS

SECTION 9-307. LOCATION OF DEBTOR

[SUBPART 2. PERFECTION]

SECTION 9-308. WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION

SECTION 9-309. SECURITY INTEREST PERFECTED UPON ATTACHMENT

SECTION 9-310. WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL LIEN; SECURITY INTERESTS AND AGRICULTURAL LIENS TO WHICH FILING PROVISIONS DO NOT APPLY

SECTION 9-311. PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN STATUTES, REGULATIONS, AND TREATIES

SECTION 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

SECTION 9-313. WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS SECURITY INTEREST WITHOUT FILING

SECTION 9-314. PERFECTION BY CONTROL

SECTION 9-315. SECURED PARTY’S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS

SECTION 9-316. CONTINUED PERFECTION OF SECURITY INTEREST FOLLOWING CHANGE IN GOVERNING LAW

[SUBPART 3. PRIORITY]

SECTION 9-317. INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF UNPERFECTED SECURITY INTEREST OR AGRICULTURAL LIEN

SECTION 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

SECTION 9-319. RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS AND PURCHASERS

SECTION 9-320. BUYER OF GOODS

SECTION 9-321. LICENSEE OF GENERAL INTANGIBLE AND LESSEE OF GOODS IN ORDINARY COURSE OF BUSINESS

SECTION 9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN AND AGRICULTURAL LIENS ON SAME COLLATERAL

SECTION 9-323. FUTURE ADVANCES

SECTION 9-324. PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS

SECTION 9-325. PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL

SECTION 9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR

SECTION 9-327. PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT

SECTION 9-328. PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY

SECTION 9-329. PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHT

SECTION 9-330. PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT

SECTION 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

SECTION 9-332. TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT

SECTION 9-333. PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW

SECTION 9-334. PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS

SECTION 9-335. ACCESSIONS

SECTION 9-336. COMMINGLED GOODS

SECTION 9-337. PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE OF TITLE

SECTION 9-338. PRIORITY OF SECURITY INTEREST OR AGRICULTURAL LIEN PERFECTED BY FILED FINANCING STATEMENT PROVIDING CERTAIN INCORRECT INFORMATION

SECTION 9-339. PRIORITY SUBJECT TO SUBORDINATION

[SUBPART 4. RIGHTS OF BANK]

SECTION 9-340. EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT ACCOUNT

SECTION 9-341. BANK’S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT

SECTION 9-342. BANK’S RIGHT TO REFUSE TO ENTER INTO OR DISCLOSE EXISTENCE OF CONTROL AGREEMENT


PART 4 - RIGHTS OF THIRD PARTIES

SECTION 9-401. ALIENABILITY OF DEBTOR’S RIGHTS

SECTION 9-402. SECURED PARTY NOT OBLIGATED ON CONTRACT OF DEBTOR OR IN TORT

SECTION 9-403. AGREEMENT NOT TO ASSERT DEFENSES AGAINST ASSIGNEE

SECTION 9-404. RIGHTS ACQUIRED BY ASSIGNEE; CLAIMS AND DEFENSES AGAINST ASSIGNEE

SECTION 9-405. MODIFICATION OF ASSIGNED CONTRACT

SECTION 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

SECTION 9-407. RESTRICTIONS ON CREATION OR ENFORCEMENT OF SECURITY INTEREST IN LEASEHOLD INTEREST OR IN LESSOR’S RESIDUAL INTEREST

SECTION 9-408. RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE

SECTION 9-409. RESTRICTIONS ON ASSIGNMENT OF LETTER-OF-CREDIT RIGHTS INEFFECTIVE


PART 5 - FILING

[SUBPART 1. FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT]

SECTION 9-501. FILING OFFICE

SECTION 9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT3

SECTION 9-503. NAME OF DEBTOR AND SECURED PARTY

SECTION 9-504. INDICATION OF COLLATERAL

SECTION 9-505. FILING AND COMPLIANCE WITH OTHER STATUTES AND TREATIES FOR CONSIGNMENTS, LEASES, OTHER BAILMENTS, AND OTHER TRANSACTIONS

SECTION 9-506. EFFECT OF ERRORS OR OMISSIONS

SECTION 9-507. EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF FINANCING STATEMENT

SECTION 9-508. EFFECTIVENESS OF FINANCING STATEMENT IF NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT

SECTION 9-509. PERSONS ENTITLED TO FILE A RECORD

SECTION 9-510. EFFECTIVENESS OF FILED RECORD

SECTION 9-511. SECURED PARTY OF RECORD

SECTION 9-512. AMENDMENT OF FINANCING STATEMENT

SECTION 9-513. TERMINATION STATEMENT

SECTION 9-514. ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD

SECTION 9-515. DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT

SECTION 9-516. WHAT CONSTITUTES FILING; EFFECTIVENESS OF FILING

SECTION 9-517. EFFECT OF INDEXING ERRORS

SECTION 9-518. CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD

[SUBPART 2. DUTIES AND OPERATION OF FILING OFFICE]

SECTION 9-519. NUMBERING, MAINTAINING, AND INDEXING RECORDS; COMMUNICATING INFORMATION PROVIDED IN RECORDS

SECTION 9-520. ACCEPTANCE AND REFUSAL TO ACCEPT RECORD

SECTION 9-521. UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT

SECTION 9-522. MAINTENANCE AND DESTRUCTION OF RECORDS

SECTION 9-523. INFORMATION FROM FILING OFFICE; SALE OR LICENSE OF RECORDS

SECTION 9-524. DELAY BY FILING OFFICE

SECTION 9-525. FEES

SECTION 9-526. FILING-OFFICE RULES

SECTION 9-527. DUTY TO REPORT

PART 6. DEFAULT

[SUBPART 1. DEFAULT AND ENFORCEMENT OF SECURITY INTEREST]

SECTION 9-601. RIGHTS AFTER DEFAULT; JUDICIAL ENFORCEMENT; CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, OR PROMISSORY NOTES

SECTION 9-602. WAIVER AND VARIANCE OF RIGHTS AND DUTIES

SECTION 9-603. AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES

SECTION 9-604. PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES

SECTION 9-605. UNKNOWN DEBTOR OR SECONDARY OBLIGOR

SECTION 9-606. TIME OF DEFAULT FOR AGRICULTURAL LIEN

SECTION 9-607. COLLECTION AND ENFORCEMENT BY SECURED PARTY

SECTION 9-608. APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS

SECTION 9-609. SECURED PARTY’S RIGHT TO TAKE POSSESSION AFTER DEFAULT

SECTION 9-610. DISPOSITION OF COLLATERAL AFTER DEFAULT

SECTION 9-611. NOTIFICATION BEFORE DISPOSITION OF COLLATERAL

SECTION 9-612. TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL

SECTION 9-613. CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: GENERAL

SECTION 9-614. CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: CONSUMER-GOODS TRANSACTION

SECTION 9-615. APPLICATION OF PROCEEDS OF DISPOSITION; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS

SECTION 9-616. EXPLANATION OF CALCULATION OF SURPLUS OR DEFICIENCY

SECTION 9-617. RIGHTS OF TRANSFEREE OF COLLATERAL

SECTION 9-618. RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS

SECTION 9-619. TRANSFER OF RECORD OR LEGAL TITLE

SECTION 9-620. ACCEPTANCE OF COLLATERAL IN FULL OR PARTIAL SATISFACTION OF OBLIGATION; COMPULSORY DISPOSITION OF COLLATERAL

SECTION 9-621. NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL

SECTION 9-622. EFFECT OF ACCEPTANCE OF COLLATERAL

SECTION 9-623. RIGHT TO REDEEM COLLATERAL

SECTION 9-624. WAIVER

[SUBPART 2. NONCOMPLIANCE WITH ARTICLE]

SECTION 9-625. REMEDIES FOR SECURED PARTY’S FAILURE TO COMPLY WITH ARTICLE

SECTION 9-626. ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE

SECTION 9-627. DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE

SECTION 9-628. NONLIABILITY AND LIMITATION ON LIABILITY OF SECURED PARTY; LIABILITY OF SECONDARY OBLIGOR


PART 7 - TRANSITION

[Omitted]