§ 9108. Sufficiency of description.

281 words·~1 min read·/pa/title-13/chapter-91/9108

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(a)Sufficiency of description.-- Except as otherwise provided in subsections (c),

(d)and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.

(b)Examples of reasonable identification.-- Except as otherwise provided in subsection (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by:

(1)specific listing;

(2)category;

(3)except as otherwise provided in subsection (e), a type of collateral defined in this title;

(4)quantity;

(5)computational or allocational formula or procedure; or

(6)except as otherwise provided in subsection (c), any other method, if the identity of the collateral is objectively determinable.

(c)Supergeneric description not sufficient.-- A description of collateral as "all the debtor's assets" or "all the debtor's personal property" or using words of similar import does not reasonably identify the collateral.

(d)Investment property.-- Except as otherwise provided in subsection (e), a description of a security entitlement, securities account or commodity account is sufficient if it describes:

(1)the collateral by those terms or as investment property; or

(2)the underlying financial asset or commodity contract.

(e)When description by type insufficient.-- A description only by type of collateral defined in this title is an insufficient description of:

(1)a commercial tort claim; or

(2)in a consumer transaction, consumer goods, a security entitlement, a securities account or a commodity account.

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Cross References. Section 9108 is referred to in section 9504 of this title; section 6222 of Title 12 (Commerce and Trade).

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SUBCHAPTER B

APPLICABILITY OF DIVISION

Sec.

9109. Scope.

9110. Security interests arising under Division 2 or 2A.

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