§ 9201. General effectiveness of security agreement.
210 words·~1 min read·
/pa/title-13/chapter-92/9201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 9201. General effectiveness of security agreement.
(a)General effectiveness.-- Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral and against creditors.
(b)Applicable consumer laws and other law.-- A transaction subject to this division is subject to:
(1)any applicable rule of law which establishes a different rule for consumers;
(2)any other statute or regulation of the Commonwealth which regulates the rates, charges, agreements and practices for loans, credit sales or other extensions of credit; and
(3)any consumer protection statute or regulation of the Commonwealth.
(c)Other applicable law controls.-- In case of conflict between this division and a rule of law, statute or regulation described in subsection (b), the rule of law, statute or regulation controls. Failure to comply with a statute or regulation described in subsection
(b)has only the effect the statute or regulation specifies.
(d)Further deference to other applicable law.-- This division does not:
(1)validate any rate, charge, agreement or practice which violates a rule of law, statute or regulation described in subsection (b); or
(2)extend the application of the rule of law, statute or regulation to a transaction not otherwise subject to it.
13c9202s