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§46-9-101. Short Title - Subpart 1. Short Title, Definitions, And General Concepts. §46-9-101. Short...
§46-9-102. Definitions and Index of Definitions - (a) Article 9 definitions. -- In this article: (1) "Accession"...
§46-9-103. Purchase-Money Security Interest; Application of Payments; Burden of Establishing - (a) Definitions. In this section: (1) "Purchase-money collateral" means goods...
§46-9-103a. &Quot;production-Money Crops"; &Quot;production-Money Obligation"; Production-Money Security Interest; Burden of Establishing - (a) A security interest in crops is a production-money security...
§46-9-104. Control of Deposit Account - (a) Requirements for control. A secured party has control of...
§46-9-105. Control of Electronic Chattel Paper - (a) General rule: control of electronic chattel paper. A secured...
§46-9-106. Control of Investment Property - (a) Control under section 8-106. A person has control of...
§46-9-107. Control of Letter-of-Credit Right - A secured party has control of a letter-of-credit right to...
§46-9-108. Sufficiency of Description - (a) Sufficiency of description. Except as otherwise provided in subsections...
§46-9-109. Scope - §46-9-109. Scope. (a) General scope of article. -– Except as...
§46-9-110. Security Interests Arising Under Article Two or Two-A - A security interest arising under section 2-401, 2-505, 2-711(3) or...
§46-9-201. General Effectiveness of Security Agreement - Interest; Rights Of Parties To Security Agreement. Subpart 1. Effectiveness...
§46-9-202. Title to Collateral Immaterial - Except as otherwise provided with respect to consignments or sales...
§46-9-203. Attachment and Enforceability of Security Interest; Proceeds; Supporting Obligations; Formal Requisites - (a) Attachment. A security interest attaches to collateral when it...
§46-9-204. After-Acquired Property; Future Advances - (a) After-acquired collateral. Except as otherwise provided in subsection (b),...
§46-9-205. Use or Disposition of Collateral Permissible - (a) When security interest not invalid or fraudulent. A security...
§46-9-206. Security Interest Arising in Purchase or Delivery of Financial Asset - (a) Security interest when person buys through securities intermediary. A...
§46-9-207. Rights and Duties of Secured Party Having Possession or Control of Collateral - (a) Duty of care when secured party in possession. Except...
§46-9-208. Additional Duties of Secured Party Having Control of Collateral - (a) Applicability of section. This section applies to cases in...
§46-9-209. Duties of Secured Party if Account Debtor Has Been Notified of Assignment - (a) Applicability of section. Except as otherwise provided in subsection...
§46-9-210. Request for Accounting; Request Regarding List of Collateral or Statement of Account - (a) Definitions. In this section: (1) "Request" means a record...
§46-9-301. Law Governing Perfection and Priority of Security Interests - Subpart 1. Law Governing Perfection and Priority §46-9-301. Law governing...
§46-9-302. Law Governing Perfection and Priority of Agricultural Liens - While farm products are located in a jurisdiction, the local...
§46-9-303. Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title - (a) Applicability of section. This section applies to goods covered...
§46-9-304. Law Governing Perfection and Priority of Security Interests in Deposit Accounts - (a) The local law of a bank's jurisdiction governs perfection,...
§46-9-305. Law Governing Perfection and Priority of Security Interests in Investment Property - (a) Governing law: general rules. Except as otherwise provided in...
§46-9-306. Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights - (a) Governing law: issuer's or nominated person's jurisdiction. Subject to...
§46-9-307. Location of Debtor - (a) "Place of business." -- In this section, "place of...
§46-9-308. When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection - §46-9-308. When security interest or agricultural lien is perfected; continuity...
§46-9-309. Security Interest Perfected Upon Attachment - The following security interests are perfected when they attach: (1)...
§46-9-310. When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply - (a) General rule: Perfection by filing. Except as otherwise provided...
§46-9-311. Perfection of Security Interests in Property Subject to Certain Statutes, Regulations and Treaties - (a) Security interest subject to other law. -- Except as...
§46-9-312. 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 Without... - (a) Perfection by filing permitted. A security interest in chattel...
§46-9-313. When Possession by or Delivery to Secured Party Perfects Security Interest Without Filing - (a) Perfection by possession or delivery. Except as otherwise provided...
§46-9-314. Perfection by Control - (a) Perfection by control. A security interest in investment property,...
§46-9-315. Secured Party's Rights on Disposition of Collateral and in Proceeds - (a) Disposition of collateral: continuation of security interest or agricultural...
§46-9-316. Effect of Change in Governing Law - (a) General rule: effect on perfection of change in governing...
§46-9-317. Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien - (a) Conflicting security interests and rights of lien creditors. --...
§46-9-318. 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) Seller retains no interest. A debtor that has sold...
§46-9-319. Rights and Title of Consignee With Respect to Creditors and Purchasers - (a) Consignee has consignor's rights. Except as otherwise provided in...
§46-9-320. Buyer of Goods - (a) Buyer in ordinary course of business. Except as otherwise...
§46-9-321. Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business - (a) "Licensee in ordinary course of business." In this section,...
§46-9-322. Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral - (a) General priority rules. Except as otherwise provided in this...
§46-9-323. Future Advances - (a) When priority based on time of advance. Except as...
§46-9-324. Priority of Purchase-Money Security Interests - (a) General rule: purchase-money priority. Except as otherwise provided in...
§46-9-324a. Priority of Production-Money Security Interests and Agricultural Liens - (a) Except as otherwise provided in subsections (c), (d), and...
§46-9-325. Priority of Security Interests in Transferred Collateral - (a) Subordination of security interest in transferred collateral. Except as...
§46-9-326. Priority of Security Interests Created by New Debtor - (a) Subordination of security interest created by new debtor.-- Subject...
§46-9-327. Priority of Security Interests in Deposit Account - The following rules govern priority among conflicting security interests in...
§46-9-328. Priority of Security Interests in Investment Property - The following rules govern priority among conflicting security interests in...
§46-9-329. Priority of Security Interests in Letter-of-Credit Right - The following rules govern priority among conflicting security interests in...
§46-9-330. Priority of Purchaser of Chattel Paper or Instrument - (a) Purchaser's priority: security interest claimed merely as proceeds. A...
§46-9-331. Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements Under Article Eight - §46-9-331. Priority of rights of purchasers of instruments, documents, and...
§46-9-332. Transfer of Money; Transfer of Funds From Deposit Account - (a) Transferee of money. A transferee of money takes the...
§46-9-333. Priority of Certain Liens Arising by Operation of Law - (a) "Possessory lien." In this section, "possessory lien" means an...
§46-9-334. Priority of Security Interests in Fixtures and Crops - (a) Security interest in fixtures under this article. A security...
§46-9-335. Accessions - (a) Creation of security interest in accession. A security interest...
§46-9-336. Commingled Goods - (a) "Commingled goods." In this section, "commingled goods" means goods...
§46-9-337. Priority of Security Interests in Goods Covered by Certificate of Title - If, while a security interest in goods is perfected by...
§46-9-338. 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...
§46-9-339. Priority Subject to Subordination - This article does not preclude subordination by agreement by a...
§46-9-340. Effectiveness of Right of Recoupment or Set-Off Against Deposit Account - §46-9-340. Effectiveness of right of recoupment or set-off against deposit...
§46-9-341. Bank's Rights and Duties With Respect to Deposit Account - Except as otherwise provided in section 9-340(c), and unless the...
§46-9-342. Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement - This article does not require a bank to enter into...
§46-9-401. Alienability of Debtor's Rights - §46-9-401. Alienability of debtor's rights. (a) Other law governs alienability;...
§46-9-402. Secured Party Not Obligated on Contract of Debtor or in Tort - The existence of a security interest, agricultural lien, or authority...
§46-9-403. Agreement Not to Assert Defenses Against Assignee - (a) "Value." In this section, "value" has the meaning provided...
§46-9-404. Rights Acquired by Assignee; Claims and Defenses Against Assignee - (a) Assignee's rights subject to terms, claims and defenses; exceptions....
§46-9-405. Modification of Assigned Contract - (a) Effect of modification on assignee. A modification of or...
§46-9-406. 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 - §46-9-406. Discharge of account debtor; notification of assignment; identification and...
§46-9-407. Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest - (a) Term restricting assignment generally ineffective. Except as otherwise provided...
§46-9-408. Restrictions on Assignment of Promissory Notes, Health-Care-Insurance Receivables and Certain General Intangibles Ineffective - (a) Term restricting assignment generally ineffective.-- Except as otherwise provided...
§46-9-409. Restrictions on Assignment of Letter-of-Credit Rights Ineffective - (a) Term or law restricting assignment generally ineffective. A term...
§46-9-501. Filing Office - SUBPART 1. FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT....
§46-9-502. Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement - (a) Sufficiency of financing statement. -- Subject to subsection (b),...
§46-9-503. Name of Debtor and Secured Party - (a) Sufficiency of debtor's name. -- A financing statement sufficiently...
§46-9-504. Indication of Collateral - A financing statement sufficiently indicates the collateral that it covers...
§46-9-505. Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments and Other Transactions - (a) Use of terms other than "debtor" and "secured party."...
§46-9-506. Effect of Errors or Omissions - (a) Minor errors and omissions. A financing statement substantially satisfying...
§46-9-507. Effect of Certain Events on Effectiveness of Financing Statement - (a) Disposition. -- A filed financing statement remains effective with...
§46-9-508. Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement - (a) Financing statement naming original debtor. Except as otherwise provided...
§46-9-509. Persons Entitled to File a Record - (a) Person entitled to file record. A person may file...
§46-9-510. Effectiveness of Filed Record - (a) Filed record effective if authorized. -- A filed record...
§46-9-511. Secured Party of Record - (a) Secured party of record. A secured party of record...
§46-9-512. Amendment of Financing Statement - (a) Amendment of information in financing statement. Subject to section...
§46-9-513. Termination Statement - (a) Consumer goods. A secured party shall cause the secured...
§46-9-514. Assignment of Powers of Secured Party of Record - (a) Assignment reflected on initial financing statement. Except as otherwise...
§46-9-515. Duration and Effectiveness of Financing Statement; Effect of Lapsed Financing Statement - (a) Five-year effectiveness. -- Except as otherwise provided in subsections...
§46-9-516. What Constitutes Filing; Effectiveness of Filing - (a) What constitutes filing. -- Except as otherwise provided in...
§46-9-516a. Filing Fraudulent Records; Civil and Criminal Penalties; Administrative Proceedings; Immunity From Liability - (a) No person may cause to be communicated to the...
§46-9-517. Effect of Indexing Errors - The failure of the filing office to index a record...
§46-9-518. Claim Concerning Inaccurate or Wrongfully Filed Record - (a) Statement with respect to record indexed under person's name....
§46-9-519. Numbering, Maintaining and Indexing Records; Communicating Information Provided in Records - §46-9-519. Numbering, maintaining and indexing records; communicating information provided in...
§46-9-520. Acceptance and Refusal to Accept Record - (a) Mandatory refusal to accept record. A filing office shall...
§46-9-521. Written Financing Statement and Amendment Thereto - (a) Initial financing statement. -- A filing office that accepts...
§46-9-522. Maintenance and Destruction of Records - (a) Post-lapse maintenance and retrieval of information. The filing office...
§46-9-523. Information From Filing Office; Sale or License of Records - (a) Acknowledgment of filing written record. -- If a person...
§46-9-524. Delay by Filing Office - Delay by the filing office beyond a time limit prescribed...
§46-9-525. Fees - (a) Initial financing statement or other record: general rule. --...
§46-9-526. Filing-Office Rules - (a) Adoption of filing-office rules. The Secretary of State shall...
§46-9-527. Duty to Report - The Secretary of State shall report to the Joint Committee...
§46-9-601. Rights After Default; Judicial Enforcement; Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles or Promissory Notes - Subpart 1. Default and Enforcement of Security Interest. §46-9-601. Rights...
§46-9-602. Waiver and Variance of Rights and Duties - Except as otherwise provided in section 9-624, to the extent...
§46-9-603. Agreement on Standards Concerning Rights and Duties - (a) Agreed standards. The parties may determine by agreement the...
§46-9-604. Procedure if Security Agreement Covers Real Property or Fixtures - (a) Enforcement: personal and real property. If a security agreement...
§46-9-605. Unknown Debtor or Secondary Obligor - A secured party does not owe a duty based on...
§46-9-606. Time of Default for Agricultural Lien - For purposes of this part, a default occurs in connection...
§46-9-607. Collection and Enforcement by Secured Party - (a) Collection and enforcement generally. -- If so agreed, and...
§46-9-608. Application of Proceeds of Collection or Enforcement; Liability for Deficiency and Right to Surplus - (a) Application of proceeds, surplus and deficiency if obligation secured....
§46-9-609. Secured Party's Right to Take Possession After Default - (a) Possession; rendering equipment unusable; disposition on debtor's premises. After...
§46-9-610. Disposition of Collateral After Default - (a) Disposition after default. After default, a secured party may...
§46-9-611. Notification Before Disposition of Collateral - (a) "Notification date." In this section, "notification date" means the...
§46-9-612. Timeliness of Notification Before Disposition of Collateral - (a) Reasonable time is question of fact. Except as otherwise...
§46-9-613. Contents and Form of Notification Before Disposition of Collateral: General - Except in a consumer-goods transaction, the following rules apply: (1)...
§46-9-614. Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction - In a consumer-goods transaction, the following rules apply: (1) A...
§46-9-615. Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus - (a) Application of proceeds. A secured party shall apply or...
§46-9-616. Explanation of Calculation of Surplus or Deficiency - (a) Definitions. In this section: (1) "Explanation" means a writing...
§46-9-617. Rights of Transferee of Collateral - (a) Effects of disposition. A secured party's disposition of collateral...
§46-9-618. Rights and Duties of Certain Secondary Obligors - (a) Rights and duties of secondary obligor. A secondary obligor...
§46-9-619. Transfer of Record or Legal Title - (a) "Transfer statement." In this section, "transfer statement" means a...
§46-9-620. Acceptance of Collateral in Full or Partial Satisfaction of Obligation; Compulsory Disposition of Collateral - (a) Conditions to acceptance in satisfaction. Except as otherwise provided...
§46-9-621. Notification of Proposal to Accept Collateral - (a) Persons to which proposal to be sent. A secured...
§46-9-622. Effect of Acceptance of Collateral - (a) Effect of acceptance. A secured party's acceptance of collateral...
§46-9-623. Right to Redeem Collateral - (a) Persons that may redeem. A debtor, any secondary obligor,...
§46-9-624. Waiver - (a) Waiver of disposition notification. A debtor or secondary obligor...
§46-9-625. Remedies for Secured Party's Failure to Comply With Article - §46-9-625. Remedies for secured party's failure to comply with article....
§46-9-626. Action in Which Deficiency or Surplus Is in Issue - (a) Applicable rules if amount of deficiency or surplus in...
§46-9-627. Determination of Whether Conduct Was Commercially Reasonable - (a) Greater amount obtainable under other circumstances; no preclusion of...
§46-9-628. Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor - (a) Limitation of liability of secured party for noncompliance with...
§46-9-701. Effective Date - §46-9-701. Effective date. This article takes effect on July 1,...
§46-9-702. Savings Clause - (a) Pre-effective-date transactions or liens. Except as otherwise provided in...
§46-9-703. Security Interest Perfected Before Effective Date - (a) Continuing priority over lien creditor: perfection requirements satisfied. A...
§46-9-704. Security Interest Unperfected Before Effective Date - A security interest that is enforceable immediately before this article...
§46-9-705. Effectiveness of Action Taken Before Effective Date - §46-9-705. Effectiveness of action taken before effective date. (a) Pre-effective-date...
§46-9-706. When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement - (a) Initial financing statement in lieu of continuation statement. The...
§46-9-707. Amendment of Preeffective-Date Financing Statement - (a) "Preeffective-date financing statement." In this section, "preeffective-date financing statement"...
§46-9-708. Persons Entitled to File Initial Financing Statement or Continuation Statement - A person may file an initial financing statement or a...
§46-9-709. Priority - (a) Law governing priority. This article determines the priority of...
§46-9-801. Effective Date - §46-9-801. Effective date. The amendments to this article enacted by...
§46-9-802. Savings Clause - (a) Preeffective-date transactions or liens. -- Except as otherwise provided...
§46-9-803. Security Interest Perfected Before Effective Date - (a) Continuing perfection: perfection requirements satisfied. -- A security interest...
§46-9-804. Security Interest Unperfected Before Effective Date - A security interest that is an unperfected security interest immediately...
§46-9-805. Effectiveness of Action Taken Before Effective Date - (a) Preeffective-date filing effective. -- The filing of a financing...
§46-9-806. When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement - (a) Initial financing statement in lieu of continuation statement. --...
§46-9-807. Amendment of Preeffective-Date Financing Statement - (a) "Preeffective-date financing statement". -- In this section, "preeffective-date financing...
§46-9-808. Person Entitled to File Initial Financing Statement or Continuation Statement - A person may file an initial financing statement or a...
§46-9-809. Priority - This article determines the priority of conflicting claims to collateral....