Legislation
SECTION 9-309
Security Interest Perfected upon Attachment
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 9, PART 3, SUBPART 2
Section 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 9--311(b) with respect to consumer goods
that are subject to a statute or treaty described in Section 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 2--401, 2--505,
2--711(3), or 2-A-508(5), until the debtor obtains possession of the
collateral;
(7) a security interest of a collecting bank arising under Section
4--210;
(8) a security interest of an issuer or nominated person arising under
Section 5--118;
(9) a security interest arising in the delivery of a financial asset
under Section 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;
(13) a security interest created by an assignment of a beneficial
interest in a decedent's estate; and
(14) a sale by an individual of an account that is a right to payment
of winnings in a lottery or other game of chance.
The following security interests are perfected when they attach:
(1) a purchase-money security interest in consumer goods, except as
otherwise provided in Section 9--311(b) with respect to consumer goods
that are subject to a statute or treaty described in Section 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 2--401, 2--505,
2--711(3), or 2-A-508(5), until the debtor obtains possession of the
collateral;
(7) a security interest of a collecting bank arising under Section
4--210;
(8) a security interest of an issuer or nominated person arising under
Section 5--118;
(9) a security interest arising in the delivery of a financial asset
under Section 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;
(13) a security interest created by an assignment of a beneficial
interest in a decedent's estate; and
(14) a sale by an individual of an account that is a right to payment
of winnings in a lottery or other game of chance.