(a) General rule; location of debtor.--Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a security interest in collateral.
(b) Possessory security interests; location of collateral.--While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a possessory security interest in that collateral.
(c) Fixture filings, timber to be cut, priority of nonpossessory tangible personal property security interests; location of collateral.--Except as otherwise provided in subsection (d), while collateral is located in a jurisdiction, the local law of that jurisdiction governs:
(1) perfection of a security interest in goods by filing a fixture filing;
(2) perfection of a security interest in timber to be cut; and
(3) the effect of perfection or nonperfection and the priority of a nonpossessory security interest in tangible negotiable documents, goods, instruments, money or tangible chattel paper.
(d) As-extracted collateral; location of wellhead or minehead.--The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection and the priority of a security interest in as-extracted collateral.
(e) Other exceptions.--The rules of this section are subject to:
(1) Section 9303 (relating to law governing perfection and priority of security interests in goods covered by certificate of title).
(2) Section 9304 (relating to law governing perfection and priority of security interests in deposit accounts).
(3) Section 9305 (relating to law governing perfection and priority of security interests in investment property).
(4) Section 9306 (relating to law governing perfection and priority of security interests in letter-of-credit rights).
(Apr. 16, 2008, P.L.57, No.13, eff. 60 days)
2008 Amendment. Act 13 amended subsec. (c)(3).
Cross References. Section 9301 is referred to in section 9316 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 93 - Perfection and Priority
Section 9301 - Law governing perfection and priority of security interests
Section 9302 - Law governing perfection and priority of agricultural liens
Section 9304 - Law governing perfection and priority of security interests in deposit accounts
Section 9305 - Law governing perfection and priority of security interests in investment property
Section 9307 - Location of debtor
Section 9308 - When security interest or agricultural lien is perfected; continuity of perfection
Section 9309 - Security interest perfected upon attachment
Section 9314 - Perfection by control
Section 9315 - Secured party's rights on disposition of collateral and in proceeds
Section 9316 - Effect of change in governing law
Section 9319 - Rights and title of consignee with respect to creditors and purchasers
Section 9321 - Licensee of general intangible and lessee of goods in ordinary course of business
Section 9323 - Future advances
Section 9324 - Priority of purchase-money security interests
Section 9325 - Priority of security interests in transferred collateral
Section 9326 - Priority of security interests created by new debtor
Section 9327 - Priority of security interests in deposit account
Section 9328 - Priority of security interests in investment property
Section 9329 - Priority of security interests in letter-of-credit right
Section 9330 - Priority of purchaser of chattel paper or instrument
Section 9332 - Transfer of money; transfer of funds from deposit account
Section 9333 - Priority of certain liens arising by operation of law
Section 9334 - Priority of security interests in fixtures and crops
Section 9336 - Commingled goods
Section 9337 - Priority of security interests in goods covered by certificate of title
Section 9339 - Priority subject to subordination
Section 9340 - Effectiveness of right of recoupment or set-off against deposit account
Section 9341 - Bank's rights and duties with respect to deposit account
Section 9342 - Bank's right to refuse to enter into or disclose existence of control agreement