§9-1311. Perfection of security interests in property subject to certain statutes, regulations and treaties
443 words·~2 min read·
/me/title-11-uniform-commercial-code/9-1311A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1). Except as otherwise provided in subsection
(4), the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to:
(a). A statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt section 9‑1310, subsection
(1); [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). Title 29‑A, chapter 7 ; or [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(c). A statute of another jurisdiction that provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property. [PL 2013, c. 317, Pt. A, §13 (AMD).]
[PL 2013, c. 317, Pt. A, §13 (AMD).]
(2). Compliance with the requirements of a statute, regulation or treaty described in subsection
(1)for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this Article. Except as otherwise provided in subsection
(4)and sections 9‑1313 and 9‑1316, subsections
(4)and
(5)for goods covered by a certificate of title, a security interest in property subject to a statute, regulation or treaty described in subsection
(1)may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(3). Except as otherwise provided in subsection
(4)and section 9‑1316, subsection
(4)and
(5), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation or treaty described in subsection
(1)are governed by the statute, regulation or treaty. In other respects, the security interest is subject to this Article.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(4). During any period in which collateral subject to a statute specified in subsection (1), paragraph
(b), is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]