Section 400.9-309

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 01 Jul 2001, see footnote   

  400.9-309.  Security interest perfected upon attachment. — The following security interests are perfected when they attach:

  (1)  A purchase-money security interest in consumer goods, except as otherwise provided in section 400.9-311(b) with respect to consumer goods that are subject to a statute or treaty described in section 400.9-311(a);

  (2)  An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles;

  (3)  A sale of a payment intangible;

  (4)  A sale of a promissory note;

  (5)  A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services;

  (6)  A security interest arising under section 400.2-401, 400.2-505, 400.2-711(3) or 400.2A-508(5), until the debtor obtains possession of the collateral;

  (7)  A security interest of a collecting bank arising under section 400.4-210;

  (8)  A security interest of an issuer or nominated person arising under section 400.5-118;

  (9)  A security interest arising in the delivery of a financial asset under section 400.9-206(c);

  (10)  A security interest in investment property created by a broker or securities intermediary;

  (11)  A security interest in a commodity contract or a commodity account created by a commodity intermediary;

  (12)  An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and

  (13)  A security interest created by an assignment of a beneficial interest in a decedent's estate.

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(L. 1963 p. 503 § 9-309, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6, A.L. 2001 S.B. 288)

Effective 7-01-01