South Carolina Code of Laws
Title 36 - Commercial Code

Section 36-9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. - (a) A security interest attaches to collateral when it becomes...

Section 36-9-204. After-acquired property; future advances. - (a) Except as otherwise provided in subsection (b), a security...

Section 36-9-205. Use or disposition of collateral permissible. - (a) A security interest is not invalid or fraudulent against...

Section 36-9-206. Security interest arising in purchase or delivery of financial asset. - (a) A security interest in favor of a securities intermediary...

Section 36-9-207. Rights and duties of secured party having possession or control of collateral. - (a) Except as otherwise provided in subsection (d), a secured...

Section 36-9-208. Additional duties of secured party having control of collateral. - (a) This section applies to cases in which there is...

Section 36-9-209. Duties of secured party if account debtor has been notified of assignment. - (a) Except as otherwise provided in subsection (c), this section...

Section 36-9-210. Request for accounting; request regarding list of collateral or statement of account. - (a) In this section: (1) "Request" means a record of...

Section 36-9-301. Law governing perfection and priority of security interests. - Except as otherwise provided in Sections 36-9-303 through 36-9-306, the...

Section 36-9-302. Law governing perfection and priority of agricultural liens. - While farm products are located in a jurisdiction, the local...

Section 36-9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title. - (a) This section applies to goods covered by a certificate...

Section 36-9-304. Law governing perfection and priority of security interests in deposit accounts. - (a) The local law of a bank's jurisdiction governs perfection,...

Section 36-9-305. Law governing perfection and priority of security interests in investment property. - (a) Except as otherwise provided in subsection (c), the following...

Section 36-9-306. Law governing perfection and priority of security interests in letter-of-credit rights. - (a) Subject to subsection (c), the local law of the...

Section 36-9-307. Location of debtor - (a) In this section, "place of business" means a place...

Section 36-9-308. When security interest or agricultural lien is perfected; continuity of perfection. - (a) Except as otherwise provided in this section and Section...

Section 36-9-309. Security interest perfected upon attachment. - The following security interests are perfected when they attach: (1)...

Section 36-9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply. - (a) Except as otherwise provided in subsection (b) and Section...

Section 36-9-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties. - (a) Except as otherwise provided in subsection (d), the filing...

Section 36-9-312. 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... - (a) A security interest in chattel paper, negotiable documents, instruments,...

Section 36-9-313. When possession by or delivery to secured party perfects security interest without filing. - (a) Except as otherwise provided in subsection (b), a secured...

Section 36-9-314. Perfection by control. - (a) A security interest in investment property, deposit accounts, letter-of-credit...

Section 36-9-315. Secured party ' s rights on disposition of collateral and in proceeds. - (a) Except as otherwise provided in this article and in...

Section 36-9-316. Continued perfection of security interest following change in governing law. - (a) A security interest perfected pursuant to the law of...

Section 36-9-317. Interests that take priority over or take free of security interest or agricultural lien. - (a) A security interest or agricultural lien is subordinate to...

Section 36-9-318. 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. - (a) A debtor that has sold an account, chattel paper,...

Section 36-9-319. Rights and title of consignee with respect to creditors and purchasers. - (a) Except as otherwise provided in subsection (b), for purposes...

Section 36-9-320. Buyer of goods. - (a) Except as otherwise provided in subsection (e), a buyer...

Section 36-9-321. Licensee of general intangible and lessee of goods in ordinary course of business. - (a) In this section, "licensee in ordinary course of business"...

Section 36-9-322. Priorities among conflicting security interests in and agricultural liens on same collateral. - (a) Except as otherwise provided in this section, priority among...

Section 36-9-323. Future advances. - (a) Except as otherwise provided in subsection (c), for purposes...

Section 36-9-324. Priority of purchase-money security interests. - (a) Except as otherwise provided in subsection (g), a perfected...

Section 36-9-325. Priority of security interests in transferred collateral. - (a) Except as otherwise provided in subsection (b), a security...

Section 36-9-326. Priority of security interests created by new debtor. - (a) Subject to subsection (b), a security interest that is...

Section 36-9-327. Priority of security interests in deposit account. - The following rules govern priority among conflicting security interests in...

Section 36-9-328. Priority of security interests in investment property. - The following rules govern priority among conflicting security interests in...

Section 36-9-329. Priority of security interests in letter-of-credit right. - The following rules govern priority among conflicting security interests in...

Section 36-9-330. Priority of purchaser of chattel paper or instrument. - (a) A purchaser of chattel paper has priority over a...

Section 36-9-331. Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Chapter 8. - (a) This chapter does not limit the rights of a...

Section 36-9-332. Transfer of money; transfer of funds from deposit account. - (a) A transferee of money takes the money free of...

Section 36-9-333. Priority of certain liens arising by operation of law. - (a) In this section, "possessory lien" means an interest, other...

Section 36-9-334. Priority of security interests in fixtures and crops. - (a) A security interest under this chapter may be created...

Section 36-9-335. Accessions. - (a) A security interest may be created in an accession...

Section 36-9-336. Commingled goods. - (a) In this section, "commingled goods" means goods that are...

Section 36-9-337. Priority of security interests in goods covered by certificate of title. - If, while a security interest in goods is perfected by...

Section 36-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. - If a security interest or agricultural lien is perfected by...

Section 36-9-339. Priority subject to subordination. - This chapter does not preclude subordination by agreement by a...

Section 36-9-340. Effectiveness of right of recoupment or set-off against deposit account. - (a) Except as otherwise provided in subsection (c), a bank...

Section 36-9-341. Bank's rights and duties with respect to deposit account. - Except as otherwise provided in Section 36-9-340(c), and unless the...

Section 36-9-342. Bank's right to refuse to enter into or disclose existence of control agreement. - This chapter does not require a bank to enter into...

Section 36-9-401. Alienability of debtor's rights. - (a) Except as otherwise provided in subsection (b) and Sections...

Section 36-9-402. Secured party not obligated on contract of debtor or in tort. - The existence of a security interest, agricultural lien, or authority...

Section 36-9-403. Agreement not to assert defenses against assignee. - (a) In this section, "value" has the meaning provided in...

Section 36-9-404. Rights acquired by assignee; claims and defenses against assignee. - (a) Unless an account debtor has made an enforceable agreement...

Section 36-9-405. Modification of assigned contract. - (a) A modification of or substitution for an assigned contract...

Section 36-9-406. 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. - (a) Subject to subsections (b) through (i), an account debtor...

Section 36-9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest. - (a) Except as otherwise provided in subsection (b), a term...

Section 36-9-408. Restrictions on assignment of promissory notes, health care insurance receivables, and certain general intangibles ineffective. - (a) Except as otherwise provided in subsection (b), a term...

Section 36-9-409. Restrictions on assignment of letter-of-credit rights ineffective. - (a) A term in a letter of credit or a...

Section 36-9-410. Unlawful sale or disposal of personal property subject to security interest; exceptions; penalties. - (A) Notwithstanding Section 36-9-401, a person who intentionally or wilfully...

Section 36-9-501. Filing office. - (a) Except as otherwise provided in subsection (b), if the...

Section 36-9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement. - (a) Subject to subsection (b), a financing statement is sufficient...

Section 36-9-503. Name of debtor and secured party. - (a) A financing statement sufficiently provides the name of the...

Section 36-9-504. Indication of collateral. - A financing statement sufficiently indicates the collateral that it covers...

Section 36-9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions. - (a) A consignor, lessor, or other bailor of goods, a...

Section 36-9-506. Effect of errors or omissions. - (a) A financing statement substantially satisfying the requirements of this...

Section 36-9-507. Effect of certain events on effectiveness of financing statement. - (a) A filed financing statement remains effective with respect to...

Section 36-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement. - (a) Except as otherwise provided in this section, a filed...

Section 36-9-509. Persons entitled to file a record. - (a) A person may file an initial financing statement, amendment...

Section 36-9-510. Effectiveness of filed record. - (a) A filed record is effective only to the extent...

Section 36-9-511. Secured party of record. - (a) A secured party of record with respect to a...

Section 36-9-512. Amendment of financing statement. - (a) Subject to Section 36-9-509, a person may add or...

Section 36-9-513. Termination statement. - (a) A secured party shall cause the secured party of...

Section 36-9-514. Assignment of powers of secured party of record. - (a) Except as otherwise provided in subsection (c), an initial...

Section 36-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement. - (a) Except as otherwise provided in subsections (b), (e), (f),...

Section 36-9-516. What constitutes filing; effectiveness of filing. - (a) Except as otherwise provided in subsection (b), communication of...

Section 36-9-517. Effect of indexing errors. - The failure of the filing office to index a record...

Section 36-9-518. Claim concerning inaccurate or wrongfully filed record. - (a) A person may file in the filing office an...

Section 36-9-519. Numbering, maintaining, and indexing records; communicating information provided in records. - (a) For each record filed in a filing office, the...

Section 36-9-520. Acceptance and refusal to accept record. - (a) A filing office shall refuse to accept a record...

Section 36-9-521. Uniform form of written financing statement and amendment. - (a) A filing office that accepts written records may not...

Section 36-9-522. Maintenance and destruction of records. - (a) The filing office shall maintain a record of the...

Section 36-9-523. Information from filing office; sale or license of records. - (a) If a person that files a written record requests...

Section 36-9-524. Delay by filing office. - Delay by the filing office beyond a time limit prescribed...

Section 36-9-525. Fees. - (a) Except as otherwise provided in subsection (e), the fee...

Section 36-9-526. Filing-office rules. - (a) The Secretary of State shall adopt and publish rules...

Section 36-9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. - (a) After default, a secured party has the rights provided...

Section 36-9-602. Waiver and variance of rights and duties. - Except as otherwise provided in Section 36-9-624, to the extent...

Section 36-9-603. Agreement on standards concerning rights and duties. - (a) The parties may determine by agreement the standards measuring...

Section 36-9-604. Procedure if security agreement covers real property or fixtures. - (a) If a security agreement covers both personal and real...

Section 36-9-605. Unknown debtor or secondary obligor. - A secured party does not owe a duty based on...

Section 36-9-606. Time of default for agricultural lien. - For purposes of this part, a default occurs in connection...

Section 36-9-607. Collection and enforcement by secured party. - (a) If so agreed, and in any event after default,...

Section 36-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. - (a) If a security interest or agricultural lien secures payment...

Section 36-9-609. Secured party's right to take possession after default. - (a) After default, a secured party: (1) may take possession...

Section 36-9-610. Disposition of collateral after default. - (a) After default, a secured party may sell, lease, license,...

Section 36-9-611. Notification before disposition of collateral. - (a) In this section, "notification date" means the earlier of...

Section 36-9-612. Timeliness of notification before disposition of collateral. - (a) Except as otherwise provided in subsection (b), whether a...

Section 36-9-613. Contents and form of notification before disposition of collateral: general. - Except in a consumer-goods transaction, the following rules apply: (1)...

Section 36-9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction. - In a consumer-goods transaction, the following rules apply: (1) A...

Section 36-9-615. Application of proceeds of disposition; liability for deficiency and right to surplus. - (a) A secured party shall apply or pay over for...

Section 36-9-616. Explanation of calculation of surplus or deficiency. - (a) In this section: (1) "Explanation" means a writing that:...

Section 36-9-617. Rights of transferee of collateral. - (a) A secured party's disposition of collateral after default: (1)...

Section 36-9-618. Rights and duties of certain secondary obligors. - (a) A secondary obligor acquires the rights and becomes obligated...

Section 36-9-619. Transfer of record or legal title. - (a) In this section, "transfer statement" means a record authenticated...

Section 36-9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. - (a) Except as otherwise provided in subsection (g), a secured...

Section 36-9-621. Notification of proposal to accept collateral. - (a) A secured party that desires to accept collateral in...

Section 36-9-622. Effect of acceptance of collateral. - (a) A secured party's acceptance of collateral in full or...

Section 36-9-623. Right to redeem collateral. - (a) A debtor, any secondary obligor, or any other secured...

Section 36-9-624. Waiver. - (a) A debtor or secondary obligor may waive the right...

Section 36-9-625. Remedies for secured party's failure to comply with chapter. - (a) If it is established that a secured party is...

Section 36-9-626. Action in which deficiency or surplus is in issue. - (a) In an action arising from a transaction, other than...

Section 36-9-627. Determination of whether conduct was commercially reasonable. - (a) The fact that a greater amount could have been...

Section 36-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor. - (a) Unless a secured party knows that a person is...

Section 36-9-629. Disposition of collateral by public sale. - Disposition of collateral by public proceedings as permitted by Section...

Section 36-9-630. Contents of notice of sale. - The notice of sale shall substantially: (a) Refer to the...

Section 36-9-631. Posting and mailing notice of sale. - (1) In each public sale conducted, the notice of sale...

Section 36-9-632. Exception as to perishable property. - If in the opinion of a secured party about to...

Section 36-9-633. Postponement of public sale. - (1) Any person exercising a power of sale or conducting...

Section 36-9-634. Procedure upon dissolution of order restraining or enjoining sale. - (1) When, before the date fixed for a sale, a...

Section 36-9-635. Disposition of proceeds of sale. - The proceeds of any sale or other disposition of the...

Section 36-9-702. Savings clause. - (a) Except as otherwise provided in this part, this act...

Section 36-9-703. Security interest perfected before effective date. - (a) A security interest that is enforceable immediately before this...

Section 36-9-704. Security interest unperfected before effective date. - A security interest that is enforceable immediately before this act...

Section 36-9-705. Effectiveness of action taken before effective date. - (a) If action, other than the filing of a financing...

Section 36-9-706. When initial financing statement suffices to continue effectiveness of financing statement. - (a) The filing of an initial financing statement in the...

Section 36-9-707. Pre-effective-date financing statement. - (a) In this section, "pre-effective-date financing statement" means a financing...

Section 36-9-708. Persons entitled to file initial financing statement or continuation statement. - A person may file an initial financing statement or a...

Section 36-9-709. Priority. - (a) This act determines the priority of conflicting claims to...

Section 36-9-802. Application and effect. - (a) Except as otherwise provided in this part, this act...

Section 36-9-803. Effect on previously perfected security interests. - (a) A security interest that is a perfected security interest...

Section 36-9-804. Timing of perfection of preexisting security interests. - A security interest that is an unperfected security interest immediately...

Section 36-9-805. Effect of previous filing of financing statement. - (a) The filing of a financing statement before this act...

Section 36-9-806. Filing of initial financing statement; requirements. - (a) The filing of an initial financing statement in the...

Section 36-9-807. Pre-effective-date financing statement defined; addition or deletion of collateral; effect of pre-effective-date financing statement. - (a) In this section, "preeffective-date financing statement" means a financing...

Section 36-9-808. Filing of initial financing statement or continuation statement. - A person may file an initial financing statement or a...

Section 36-9-809. Determination of priority. - This act determines the priority of conflicting claims to collateral....

Chapter 10 - Commercial Code - Effective Date And Repealer

Section 36-10-101. Effective date. - Except as otherwise provided in Chapter 11 of this title,...

Section 36-10-102. Transactions entered into before effective date of Commercial Code. - Transactions validly entered into before the effective date specified in...

Section 36-10-103. General repealer. - All acts or parts of acts inconsistent with 1988 Act...

Chapter 11 - Effective Date And Transition Provisions For The 1981 Uniform Commercial Code Amendments

Section 36-11-101. Effective date of the 1988 amendments. - The amendments to Title 36 contained in this chapter become...

Section 36-11-102. Preservation of old transition procedures. - Except as otherwise provided in Section 36-11-106(4), the provisions of...

Section 36-11-103. Transition to 1988 UCC Amendments-general rule. - Transactions validly entered into after the date specified in Section...

Section 36-11-104. Transition provisions on change of requirement of filing. - A security interest for the perfection of which filing or...

Section 36-11-105. Transition provision on change of place of filing. - (1) A financing statement or continuation statement filed prior to...

Section 36-11-106. Required refilings. - (1) If a security interest is perfected or has priority...

Section 36-11-107. Transition provisions as to priorities. - Except as otherwise provided in this Chapter 11, the 1966...

Section 36-11-108. Presumption that rule of law continues unchanged. - Unless a change in law has clearly been made, the...

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South Carolina Code of Laws Title 36 - Commercial Code

South Carolina Code of Laws
Title 36 - Commercial Code