§ 9-108. 9-108

254 words·~1 min read·/us/ucc/a9/s9-108

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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 [the Uniform Commercial Code];

(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 [the Uniform Commercial Code] 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 . [Subpart 2. Applicability of Article] [[Table of Contents]](index.htm#part12)