Skip to Content

General Laws

  Section 9-309. The following security interests are perfected when they attach:

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

  (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 2-401, 2-505, 2-711(3), or 2A-508(5), until the debtor obtains possession of the collateral;

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

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

  (9) a security interest arising in the delivery of a financial asset under Section 9-206(c);

  (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;

[ Paragraph (12) effective until July 1, 2013. For text effective July 1, 2013, see below.]

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

[ Paragraph (12) as amended by 2013, 30, Sec. 61 effective July 1, 2013 applicable as provided by 2013, 30, Sec. 116. For text effective until July 1, 2013, see above.]

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

[ Paragraph (13) effective until July 1, 2013. For text effective July 1, 2013, see below.]

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

[ Paragraph (13) as amended by 2013, 30, Sec. 61A effective July 1, 2013 applicable as provided by 2013, 30, Sec. 116. For text effective until July 1, 2013, see above.]

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

[ Paragraph (14) added by 2013, 30, Sec. 61A effective July 1, 2013 applicable as provided by 2013, 30, Sec. 116.]

  (14) a sale by an individual of an account that is a right to payment of winnings in a lottery or other game of chance.

Error