(a) Seller retains no interest. — A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
(b) Deemed rights of debtor if buyer's security interest unperfected. For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.
Structure Delaware Code
Article 9. Secured Transactions
Part 3. Perfection and Priority
§ 9-301. Law governing perfection and priority of security interests.
§ 9-302. Law governing perfection and priority of agricultural liens.
§ 9-304. Law governing perfection and priority of security interests in deposit accounts.
§ 9-305. Law governing perfection and priority of security interests in investment property.
§ 9-306. Law governing perfection and priority of security interests in letter-of-credit rights.
§ 9-308. When security interest or agricultural lien is perfected; continuity of perfection.
§ 9-309. Security interest perfected upon attachment.
§ 9-313. When possession by or delivery to secured party perfects security interest without filing.
§ 9-314. Perfection by control.
§ 9-315. Secured party's rights on disposition of collateral and in proceeds.
§ 9-316. Effect of change in governing law.
§ 9-317. Interests that take priority over or take free of security interest or agricultural lien.
§ 9-319. Rights and title of consignee with respect to creditors and purchasers.
§ 9-321. Licensee of general intangible and lessee of goods in ordinary course of business.
§ 9-324. Priority of purchase-money security interests.
§ 9-326. Priority of security interests created by new debtor.
§ 9-327. Priority of security interests in deposit account.
§ 9-328. Priority of security interests in investment property.
§ 9-329. Priority of security interests in letter-of-credit right.
§ 9-330. Priority of purchaser of chattel paper or instrument.
§ 9-332. Transfer of money; transfer of funds from deposit account.
§ 9-333. Priority of certain liens arising by operation of law.
§ 9-334. Priority of security interests in fixtures and crops.
§ 9-337. Priority of security interests in goods covered by certificate of title.
§ 9-339. Priority subject to subordination.
§ 9-340. Effectiveness of right of recoupment or set-off against deposit account.
§ 9-341. Bank's rights and duties with respect to deposit account.
§ 9-342. Bank's right to refuse to enter into or disclose existence of control agreement.