Texas Statutes
Subchapter C. Perfection and Priority
Section 9.312. Perfection of Security Interests in Chattel Paper, Deposit Accounts, Documents, and Goods Covered by Documents, Instruments, Investment Property, Virtual Currencies, Letter-of-Credit Rights, and Money; Perfection by Permissive Filing;...

Sec. 9.312. PERFECTION OF SECURITY INTERESTS IN CHATTEL PAPER, DEPOSIT ACCOUNTS, DOCUMENTS, AND GOODS COVERED BY DOCUMENTS, INSTRUMENTS, INVESTMENT PROPERTY, VIRTUAL CURRENCIES, LETTER-OF-CREDIT RIGHTS, AND MONEY; PERFECTION BY PERMISSIVE FILING; TEMPORARY PERFECTION WITHOUT FILING OR TRANSFER OF POSSESSION. (a) A security interest in chattel paper, negotiable documents, instruments, investment property, and virtual currencies may be perfected by filing.
(b) Except as otherwise provided in Sections 9.315(c) and (d) for proceeds:
(1) a security interest in a deposit account may be perfected only by control under Section 9.314;
(2) and except as otherwise provided in Section 9.308(d), a security interest in a letter-of-credit right may be perfected only by control under Section 9.314; and
(3) a security interest in money may be perfected only by the secured party's taking possession under Section 9.313.
(c) While goods are in the possession of a bailee that has issued a negotiable document covering the goods:
(1) a security interest in the goods may be perfected by perfecting a security interest in the document; and
(2) a security interest perfected in the document has priority over any security interest that becomes perfected in the goods by another method during that time.
(d) While goods are in the possession of a bailee that has issued a nonnegotiable document covering the goods, a security interest in the goods may be perfected by:
(1) issuance of a document in the name of the secured party;
(2) the bailee's receipt of notification of the secured party's interest; or
(3) filing as to the goods.
(e) A security interest in certificated securities, negotiable documents, or instruments is perfected without filing or the taking of possession or control for a period of 20 days from the time it attaches to the extent that it arises for new value given under an authenticated security agreement.
(f) A perfected security interest in a negotiable document or goods in possession of a bailee, other than one that has issued a negotiable document for the goods, remains perfected for 20 days without filing if the secured party makes available to the debtor the goods or documents representing the goods for the purpose of:
(1) ultimate sale or exchange; or
(2) loading, unloading, storing, shipping, transshipping, manufacturing, processing, or otherwise dealing with them in a manner preliminary to their sale or exchange.
(g) A perfected security interest in a certificated security or instrument remains perfected for 20 days without filing if the secured party delivers the security certificate or instrument to the debtor for the purpose of:
(1) ultimate sale or exchange; or
(2) presentation, collection, enforcement, renewal, or registration of transfer.
(h) After the 20-day period specified in Subsection (e), (f), or (g) expires, perfection depends upon compliance with this chapter.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Amended by:
Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 25, eff. September 1, 2005.
Acts 2021, 87th Leg., R.S., Ch. 739 (H.B. 4474), Sec. 4, eff. September 1, 2021.
Acts 2021, 87th Leg., R.S., Ch. 739 (H.B. 4474), Sec. 5, eff. September 1, 2021.

Structure Texas Statutes

Texas Statutes

Business and Commerce Code

Title 1 - Uniform Commercial Code

Chapter 9 - Secured Transactions

Subchapter C. Perfection and Priority

Section 9.301. Law Governing Perfection and Priority of Security Interests

Section 9.302. Law Governing Perfection and Priority of Agricultural Liens

Section 9.303. Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title

Section 9.304. Law Governing Perfection and Priority of Security Interests in Deposit Accounts

Section 9.305. Law Governing Perfection and Priority of Security Interests in Investment Property

Section 9.306. Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights

Section 9.307. Location of Debtor

Section 9.308. When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection

Section 9.309. Security Interest Perfected Upon Attachment

Section 9.310. When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply

Section 9.311. Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties

Section 9.312. Perfection of Security Interests in Chattel Paper, Deposit Accounts, Documents, and Goods Covered by Documents, Instruments, Investment Property, Virtual Currencies, Letter-of-Credit Rights, and Money; Perfection by Permissive Filing;...

Section 9.313. When Possession by or Delivery to Secured Party Perfects Security Interest Without Filing

Section 9.314. Perfection by Control

Section 9.315. Secured Party's Rights on Disposition of Collateral and in Proceeds

Section 9.316. Effect of Change in Governing Law

Section 9.317. Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien

Section 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

Section 9.319. Rights and Title of Consignee With Respect to Creditors and Purchasers

Section 9.320. Buyers of Goods

Section 9.321. Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business

Section 9.322. Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral

Section 9.323. Future Advances

Section 9.324. Priority of Purchase-Money Security Interests

Section 9.325. Priority of Security Interests in Transferred Collateral

Section 9.326. Priority of Security Interests Created by New Debtor

Section 9.327. Priority of Security Interests in Deposit Account

Section 9.328. Priority of Security Interests in Investment Property

Section 9.329. Priority of Security Interests in Letter-of-Credit Right

Section 9.330. Priority of Purchaser of Chattel Paper or Instrument

Section 9.331. Priority of Rights of Purchasers of Instruments, Documents, Securities, and Virtual Currencies Under Other Chapters; Priority of Interests in Financial Assets and Security Entitlements Under Chapter 8 and Virtual Currencies Under Chapt...

Section 9.332. Transfer of Money; Transfer of Funds From Deposit Account

Section 9.333. Priority of Certain Liens Arising by Operation of Law

Section 9.334. Priority of Security Interests in Fixtures and Crops

Section 9.335. Accessions

Section 9.336. Commingled Goods

Section 9.337. Priority of Security Interests in Goods Covered by Certificate of Title

Section 9.338. Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information

Section 9.339. Priority Subject to Subordination

Section 9.340. Effectiveness of Right of Recoupment or Set-Off Against Deposit Account

Section 9.341. Bank's Rights and Duties With Respect to Deposit Account

Section 9.342. Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement