57A-9 SECURED TRANSACTIONS
CHAPTER 57A-9

SECURED TRANSACTIONS

PART 1. GENERAL PROVISIONS.

57A-9-101      Short title.
57A-9-102      Definitions and index of definitions.
57A-9-103      Purchase money security interest--Application of payments--Burden of establishing nature of interest.
57A-9-104      Control of deposit account.
57A-9-105      Control of electronic chattel paper.
57A-9-106      Control of security, security settlement, or commodity contract.
57A-9-107      Control of letter-of-credit right.
57A-9-108      Sufficiency of description of property.
57A-9-109      Application of chapter.
57A-9-110      Provisions governing security interests arising under other sections.
57A-9-111      Repealed.

PART 2. EFFECTIVENESS OF SECURITY AGREEMENT--ATTACHMENT OF SECURITY
INTEREST--RIGHTS OF PARTIES TO SECURITY AGREEMENT.
57A-9-201      Effectiveness of security interest in general--Applicability of other laws--Conflict of law.
57A-9-202      Immateriality of title to collateral.
57A-9-203      Attachment and enforceability of security interest--Proceeds--Supporting obligations--Formal requisites.
57A-9-204      Interest in after-acquired collateral.
57A-9-204.1      Attachment of security interest in transactions entered into between June 30, 1978, and July 1, 1979.
57A-9-205      Effect of debtor's right to use or dispose of collateral--Requirement of possession.
57A-9-206      Interest in favor of securities intermediary--Interest in favor of person who delivers financial asset.
57A-9-207      Rights and duties of secured party having possession or control of collateral.
57A-9-208      Additional duties of secured party having control of collateral.
57A-9-209      Secured party's obligation to release account debtor that has received note of assignment.
57A-9-210      Response to request for accounting, statement of account, or list of collateral.
PART 3. PERFECTION AND PRIORITY.

57A-9-301      Law governing perfection, effect of perfection or nonperfection, and priority.
57A-9-302      Law governing perfection and priority issues relating to farm products.
57A-9-303      Law governing perfection and priority issues relating to goods covered by a certificate of title.
57A-9-304      Law governing perfection and priority issues relating to deposit accounts--Determination of bank's jurisdiction.
57A-9-305      Law governing perfection and priority issues relating to investment property--Determination of commodity intermediary's jurisdiction.
57A-9-306      Law governing issues of perfection and priority relating to letter-of-credit rights.
57A-9-307      Location of debtor.
57A-9-308      What constitutes perfection of security interest or agricultural lien.
57A-9-309      Security interests that are perfected when they attach.
57A-9-310      Requirement that financing statement be filed to perfect security interest or agricultural lien--Exceptions.
57A-9-311      Perfection of security interests in property subject to certain statutes, regulations, and treaties.
57A-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.
57A-9-313      Perfection by taking possession of collateral or by delivery.
57A-9-314      Perfection by control of collateral.
57A-9-315      Effect of disposition of collateral on security interest or agricultural lien--Interest in proceeds.
57A-9-316      Effect of change in governing law.
57A-9-317      Interests that take priority over or take free of security interest or agricultural lien.
57A-9-318      Effect of sale of collateral on rights of debtor.
57A-9-319      Rights of consignee in relation to creditors and purchasers.
57A-9-320      Rights of buyer in ordinary course of business--Buyer of goods from seller who bought or used them for personal or household use.
57A-9-321      "Licensee in ordinary course of business"--Rights with respect to security interest--Rights of lessee in ordinary course of business.
57A-9-322      Priority among conflicting security interests and agricultural liens in same collateral.
57A-9-323      Dating of perfection from time of advance--Subordination of security interest to interest of lien creditor--Rights of buyer of goods--Lessee of goods.
57A-9-324      Priority of perfected purchase money security interest.
57A-9-325      Subordination of security interest created by debtor to security interest created by another person.
57A-9-326      Subordination of security interest created by new debtor.
57A-9-327      Priority among conflicting security interests in same deposit account.
57A-9-328      Priority among conflicting security interests in same investment property.
57A-9-329      Priority among conflicting security interests in same letter-of-credit right.
57A-9-330      Priority of rights of purchaser of chattel paper--Priority in proceeds.
57A-9-331      Rights of holder in due course of negotiable instrument, holder of negotiable document of title, or protected purchaser of security--Rights of person protected under chapter 57A-8.
57A-9-332      Transferee of money or funds from deposit account.
57A-9-333      "Possessory lien"--Priority over security interest.
57A-9-334      Security interest in fixtures--Priority--Security interest in growing crops.
57A-9-335      Security interest in accession--Collateral that becomes an accession.
57A-9-336      "Commingled goods"--Security interest and priority issues with respect to commingled goods.
57A-9-337      Certificate of title failing to show security interest perfected under another jurisdiction's law.
57A-9-338      Effect of inaccurate financing statement on security interest or agricultural lien.
57A-9-339      Subordination by agreement.
57A-9-340      Bank's right of recoupment or setoff against party holding security interest in deposit account.
57A-9-341      Effect of security interest on bank's rights and duties with respect to deposit account.
57A-9-342      Bank's right with respect to agreement giving secured party control of deposit account.
PART 4. RIGHTS OF THIRD PARTIES.

57A-9-401      Transferability of debtor's rights.
57A-9-401.1      Repealed.
57A-9-402      Secured party's liability for debtor's acts or omissions.
57A-9-403      "Value"--Agreement not to assert claims or defenses against assignee.
57A-9-403.1 to 57A-9-403.5.      Repealed.
57A-9-404      Claims and defenses assertable against assignee.
57A-9-405      Effect of modification or substitution of assigned contract.
57A-9-406      Discharge of account debtor--Notice of assignment--Proof of assignment--Ineffective prohibitions or restrictions on assignments.
57A-9-407      Ineffective prohibitions or restrictions in lease agreement.
57A-9-408      Restrictions on assignment or transfer of promissory note, health care insurance receivable, or general intangible.
57A-9-409      Ineffective restrictions on assignment or creation of security interest in letter-of-credit right.
PART 5. FILING.

57A-9-501      Office for filing financing statement for security interest or agricultural lien.
57A-9-501.1      Validation of noncomplying statements.
57A-9-501.2      Secured party access through state's computer to record liens on real property--Rules.
57A-9-502      Contents of financing statement--Record of mortgage as financing statement--Time of filing financing statement.
57A-9-503      Name of debtor and secured party.
57A-9-504      Sufficiency of description of collateral.
57A-9-505      Filing by bailor of goods, licensor, or buyer of payment intangible or promissory note.
57A-9-506      Substantial compliance with requirements.
57A-9-507      Continuing effectiveness of filed financing statement.
57A-9-508      Effect of new debtor's rights in collateral.
57A-9-509      Authority to file financing statement or amendment adding collateral or debtor.
57A-9-510      Effectiveness of filed record.
57A-9-511      Person constituting secured party of record.
57A-9-512      Procedure for amending financing statement--Effectiveness.
57A-9-513      Termination statement.
57A-9-514      Assignment of secured party's power to authorize amendment--Assignment of record of security's interest in fixture.
57A-9-515      Effective period for filed financing statement--Effect of lapse.
57A-9-516      What constitutes filing--Effect of filing office's failure to accept record for filing.
57A-9-517      Effect of incorrect indexing of record.
57A-9-518      Information statement regarding record.
57A-9-519      Duties of filing office in dealing with records.
57A-9-520      Refusal by filing office to accept record.
57A-9-521      Forms for financing statement, amendment to statement, and addendum for either.
57A-9-522      Required retention of information from financing statement--Destruction of written record.
57A-9-523      Acknowledgment of filing--Information to be communicated from records on request--Sale or licensing of records.
57A-9-524      Excuses for filing office failure to meet time limits.
57A-9-525      Fees for filing and indexing records.
57A-9-525.1      Effect of filing with register of deeds prior to July 1, 1986--Continuation or amendment thereof.
57A-9-525.2      Central filing system--Promulgation of regulations.
57A-9-525.3      Central agricultural security interest filing system--Adoption of rules.
57A-9-525.4      Fee for crop or livestock effective finance statement microfiche master list.
57A-9-526      Rules and practices for filing offices.
57A-9-527      Financing statement and annual report filing fee fund.
57A-9-528      Fees deposited in filing fee fund.
57A-9-529      Disposition of balance of funds.
57A-9-530      Combined financing statement for farm products.
PART 6. DEFAULT.

57A-9-601      Rights of secured party after default--Rights of debtor and obligor--Relation back of judgment lien.
57A-9-602      Waiver or variance of rules by debtor or obligor.
57A-9-603      Agreement on standards for fulfilling rights and duties.
57A-9-604      Procedure if obligation secured by security interest in personal property or fixtures is also secured by interest in real property.
57A-9-605      Duty of secured party to unknown debtor or obligor or unknown secured party or lienholder.
57A-9-606      Time of default in connection with agricultural lien.
57A-9-607      Collection and enforcement by secured party.
57A-9-608      Application of proceeds--Entitlement to surplus or liability for deficiency.
57A-9-609      Secured party's rights with respect to collateral following default.
57A-9-609.1      Action for recovery of security by creditor against third party purchaser of farm products--Limitation period--Offer to file criminal complaint.
57A-9-609.2      Farm products fraud--Misdemeanor.
57A-9-610      Disposition of collateral after default--Treatment of warranties.
57A-9-611      "Notification date"--Notification of disposition of collateral.
57A-9-612      Reasonable time for sending notification.
57A-9-613      Contents of notification--Form.
57A-9-614      Notice of disposition for consumer goods transaction--Form.
57A-9-615      Order of payment of cash proceeds--Proof of subordinate security interest or lien--Surplus or deficiency.
57A-9-616      "Explanation"--"Request"--Secured party's obligation to send explanation relating to surplus or deficiency.
57A-9-617      Rights of transferee of collateral disposed of after default.
57A-9-618      Rights and duties of secondary obligor.
57A-9-619      "Transfer statement"--Rights of transferee--Effect of transfer of record or legal title.
57A-9-620      Conditions for accepting collateral in full or partial satisfaction of obligation--Requirement that collateral be disposed of.
57A-9-621      Persons who must receive secured party's proposal to accept collateral.
57A-9-622      Effect of acceptance of collateral.
57A-9-623      Persons who may redeem collateral--Procedure.
57A-9-624      Waiver of rights.
57A-9-625      Sanctions for failure to proceed in accordance with chapter--Liability for damages.
57A-9-626      Action in which amount of deficiency or surplus is in issue.
57A-9-627      What constitutes commercially reasonable collection, enforcement, disposition, or acceptance.
57A-9-628      Limitations on liability of secured party.
PART 7. TRANSITION.

57A-9-701      Effective date of chapter.
57A-9-702      Effect of chapter on transactions or liens entered into or created before July 1, 2001--Effect on actions, cases, or proceedings.
57A-9-703      Effect of division on security interests enforceable before July 1, 2001.
57A-9-704      Enforceability and perfection of security interest enforceable immediately prior to July 1, 2001, and subordinate to lien creditor.
57A-9-705      Effect of certain actions prior to July 1, 2001.
57A-9-706      Conditions to continuing effectiveness of financing statement filed before July 1, 2001.
57A-9-707      Pre-effective-date financing statement--Amendment, continuation, termination.
57A-9-708      Conditions to filing initial financing statement or continuation statement under part.
57A-9-709      Determination of priority of conflicting claims to collateral--Dating priority of security interest.
PART 8. TRANSITION PROVISIONS FOR 2013 AMENDMENTS.

57A-9-801      Effective date of SL 2012, ch 238.
57A-9-802      Savings clause.
57A-9-803      Security interest perfected before effective date.
57A-9-804      Security interest unperfected before effective date.
57A-9-805      Effectiveness of action taken before effective date.
57A-9-806      When initial financing statement suffices to continue effectiveness of financing statement.
57A-9-807      Amendment of pre-effective-date financing statement.
57A-9-808      Person entitled to file initial financing statement or continuation statement.
57A-9-809      Priority.