70A-9a-309. Security interest perfected upon attachment.

261 words·~1 min read·/ut/title-70a/chapter-9a/70a-9a-309

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

The following security interests are perfected when they attach:

(1)a purchase-money security interest in consumer goods, except as otherwise provided in Subsection 70A-9a-311(2) with respect to consumer goods that are subject to a statute or treaty described in Subsection 70A-9a-311(1) ;

(2)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;

(3)a sale of a payment intangible;

(4)a sale of a promissory note;

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

(6)a security interest arising under Section 70A-2-401 or 70A-2-505 or Subsection 70A-2-711(3) or 70A-2a-508(5) , until the debtor obtains possession of the collateral;

(7)a security interest of a collecting bank arising under Section 70A-4-210 ;

(8)a security interest of an issuer or nominated person arising under Section 70A-5-118 ;

(9)a security interest arising in the delivery of a financial asset under Subsection 70A-9a-206(3) ;

(10)a security interest in investment property created by a broker or securities intermediary;

(11)a security interest in a commodity contract or a commodity account created by a commodity intermediary;

(12)an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and

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

Enacted by Chapter 252 , 2000 General Session