440.9309 Security interest perfected upon attachment.

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Sec. 9309.

Each of the following security interests is perfected when it attaches:

(a)A purchase-money security interest in consumer goods, except as otherwise provided in section 9311(2) with respect to consumer goods that are subject to a statute or treaty described in section 9311(1).

(b)An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles.

(c)A sale of a payment intangible.

(d)A sale of a promissory note.

(e)A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services.

(f)A security interest arising under section 2401, 2505, 2711(3), or 2A508(5), until the debtor obtains possession of the collateral.

(g)A security interest of a collecting bank arising under section 4210.

(h)A security interest of an issuer or nominated person arising under section 5118.

(i)A security interest arising in the delivery of a financial asset under section 9206(3).

(j)A security interest in investment property created by a broker or securities intermediary.

(k)A security interest in a commodity contract or a commodity account created by a commodity intermediary.

(l)An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder.

(m)A security interest created by an assignment of a beneficial interest in a decedent's estate.

History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1987, Act 16, Imd. Eff. Apr. 24, 1987 ;-- Am. 1998, Act 278 , Imd. Eff. July 27, 1998 ;-- Am. 2000, Act 348 , Eff. July 1, 2001