§ 9-306B. Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles.
131 words·~1 min read·
/de/title-6/chapter-9/9-306bA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Governing law: general rules. —
Except as provided in subsection (b), the local law of the controllable electronic record’s jurisdiction specified in Section 12-107(c) and
(d)governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.
(b)When perfection governed by law of jurisdiction where debtor located. —
The local law of the jurisdiction in which the debtor is located governs:
(1)perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and
(2)automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.