PART 1. GENERAL PROVISIONS.
Definitions and index of definitions.
Purchase money security interest--Application of payments--Burden
of establishing nature of interest.
Control of deposit account.
Control of electronic chattel paper.
Control of security, security settlement, or commodity contract.
Control of letter-of-credit right.
Sufficiency of description of property.
Application of chapter.
Provisions governing security interests arising under other sections.
PART 2. EFFECTIVENESS OF SECURITY AGREEMENT--ATTACHMENT OF SECURITY
INTEREST--RIGHTS OF PARTIES TO SECURITY AGREEMENT.
Effectiveness of security interest in general--Applicability of other
laws--Conflict of law.
Immateriality of title to collateral.
Attachment and enforceability of security interest--Proceeds--Supporting obligations--Formal requisites.
Interest in after-acquired collateral.
Attachment of security interest in transactions entered into between
June 30, 1978, and July 1, 1979.
Effect of debtor's right to use or dispose of collateral--Requirement
Interest in favor of securities intermediary--Interest in favor of
person who delivers financial asset.
Rights and duties of secured party having possession or control of
Additional duties of secured party having control of collateral.
Secured party's obligation to release account debtor that has received
note of assignment.
Response to request for accounting, statement of account, or list of
PART 3. PERFECTION AND PRIORITY.
Law governing perfection, effect of perfection or nonperfection, and
Law governing perfection and priority issues relating to farm
Law governing perfection and priority issues relating to goods
covered by a certificate of title.
Law governing perfection and priority issues relating to deposit
accounts--Determination of bank's jurisdiction.
Law governing perfection and priority issues relating to investment
property--Determination of commodity intermediary's jurisdiction.
Law governing issues of perfection and priority relating to
Determination of debtor's location (Effective until July 1, 2013).
Location of debtor (Effective July 1, 2013).
What constitutes perfection of security interest or agricultural lien.
Security interests that are perfected when they attach.
Requirement that financing statement be filed to perfect security
interest or agricultural lien--Exceptions.
Perfection of security interests in property subject to certain statutes,
regulations, and treaties.
Perfection of security interests in chattel paper, deposit accounts,
documents, goods covered by documents, instruments, investment
property, letter-of-credit rights, and money--Perfection by permissive
Perfection by taking possession of collateral or by delivery.
Perfection by control of collateral.
Effect of disposition of collateral on security interest or agricultural
lien--Interest in proceeds.
Effect of change in governing law on perfection of security interest
(Effective until July 1, 2013).
Effect of change in governing law (Effective July 1, 2013).
Subordination of security interest or agricultural lien--Persons who
take free of interest or lien (Effective until July 1, 2013).
Interests that take priority over or take free of security interest or
agricultural lien (Effective July 1, 2013).
Effect of sale of collateral on rights of debtor.
Rights of consignee in relation to creditors and purchasers.
Rights of buyer in ordinary course of business--Buyer of goods from
seller who bought or used them for personal or household use.
"Licensee in ordinary course of business"--Rights with respect to
security interest--Rights of lessee in ordinary course of business.
Priority among conflicting security interests and agricultural liens in
Dating of perfection from time of advance--Subordination of
security interest to interest of lien creditor--Rights of buyer of goods--Lessee of goods.
Priority of perfected purchase money security interest.
Subordination of security interest created by debtor to security
interest created by another person.
Subordination of security interest created by new debtor.
Priority among conflicting security interests in same deposit account.
Priority among conflicting security interests in same investment
Priority among conflicting security interests in same letter-of-credit
Priority of rights of purchaser of chattel paper--Priority in proceeds.
Rights of holder in due course of negotiable instrument, holder of
negotiable document of title, or protected purchaser of security--Rights of person protected under chapter 57A-8.
Transferee of money or funds from deposit account.
"Possessory lien"--Priority over security interest.
Security interest in fixtures--Priority--Security interest in growing
Security interest in accession--Collateral that becomes an accession.
"Commingled goods"--Security interest and priority issues with
respect to commingled goods.
Certificate of title failing to show security interest perfected under
another jurisdiction's law.
Effect of inaccurate financing statement on security interest or
Subordination by agreement.
Bank's right of recoupment or setoff against party holding security
interest in deposit account.
Effect of security interest on bank's rights and duties with respect to
Bank's right with respect to agreement giving secured party control
of deposit account.
PART 4. RIGHTS OF THIRD PARTIES.
Transferability of debtor's rights.
Secured party's liability for debtor's acts or omissions.
"Value"--Agreement not to assert claims or defenses against
Claims and defenses assertable against assignee.
Effect of modification or substitution of assigned contract.
Discharge of account debtor--Notice of assignment--Proof of
assignment--Ineffective prohibitions or restrictions on assignments.
Ineffective prohibitions or restrictions in lease agreement.
Restrictions on assignment or transfer of promissory note, health
care insurance receivable, or general intangible.
Ineffective restrictions on assignment or creation of security interest
in letter-of-credit right.
PART 5. FILING.
Office for filing financing statement for security interest or
Validation of noncomplying statements.
Secured party access through state's computer to record liens on real
Requirements for financing statement--Record of mortgage as
financing statement (Effective until July 1, 2013).
Contents of financing statement--Record of mortgage as financing
statement--Time of filing financing statement (Effective July 1,
Sufficiency of provision of debtor's name (Effective until July 1,
Name of debtor and secured party (Effective July 1, 2013).
Sufficiency of description of collateral.
Filing by bailor of goods, licensor, or buyer of payment intangible or
Substantial compliance with requirements.
Continuing effectiveness of filed financing statement.
Effect of new debtor's rights in collateral.
Authority to file financing statement or amendment adding collateral
Effectiveness of filed record.
Person constituting secured party of record.
Procedure for amending financing statement--Effectiveness.
Assignment of secured party's power to authorize amendment--Assignment of record of security's interest in fixture.
Effective period for filed financing statement--Effect of lapse.
What constitutes filing--Effect of filing office's failure to accept
record for filing.
Effect of incorrect indexing of record.
Correction statement for filed record (Effective until July 1, 2013).
Information statement regarding record (Effective July 1, 2013).
Duties of filing office in dealing with records.
Refusal by filing office to accept record.
Forms for financing statement, amendment to statement, and
addendum for either.
Required retention of information from financing statement--Destruction of written record.
Acknowledgment of filing--Information to be communicated from
records on request--Sale or licensing of records.
Excuses for filing office failure to meet time limits.
Fees for filing and indexing records.
Effect of filing with register of deeds prior to July 1, 1986--Continuation or amendment thereof.
Central filing system--Promulgation of regulations.
Central agricultural security interest filing system--Adoption of
Fee for crop or livestock effective finance statement microfiche
Rules and practices for filing offices.
Financing statement and annual report filing fee fund.
Fees deposited in filing fee fund.
Disposition of balance of funds.
Combined financing statement for farm products.
PART 6. DEFAULT.
Rights of secured party after default--Rights of debtor and obligor--Relation back of judgment lien.
Waiver or variance of rules by debtor or obligor.
Agreement on standards for fulfilling rights and duties.
Procedure if obligation secured by security interest in personal
property or fixtures is also secured by interest in real property.
Duty of secured party to unknown debtor or obligor or unknown
secured party or lienholder.
Time of default in connection with agricultural lien.
Secured party's rights with respect to collection and enforcement
(Effective until July 1, 2013).
Collection and enforcement by secured party (Effective July 1,
Application of proceeds--Entitlement to surplus or liability for
Secured party's rights with respect to collateral following default.
Action for recovery of security by creditor against third party
purchaser of farm products--Limitation period--Offer to file criminal
Farm products fraud--Misdemeanor.
Disposition of collateral after default--Treatment of warranties.
"Notification date"--Notification of disposition of collateral.
Reasonable time for sending notification.
Contents of notification--Form.
Notice of disposition for consumer goods transaction--Form.
Order of payment of cash proceeds--Proof of subordinate security
interest or lien--Surplus or deficiency.
"Explanation"--"Request"--Secured party's obligation to send
explanation relating to surplus or deficiency.
Rights of transferee of collateral disposed of after default.
Rights and duties of secondary obligor.
"Transfer statement"--Rights of transferee--Effect of transfer of
record or legal title.
Conditions for accepting collateral in full or partial satisfaction of
obligation--Requirement that collateral be disposed of.
Persons who must receive secured party's proposal to accept
Effect of acceptance of collateral.
Persons who may redeem collateral--Procedure.
Waiver of rights.
Sanctions for failure to proceed in accordance with chapter--Liability
Action in which amount of deficiency or surplus is in issue.
What constitutes commercially reasonable collection, enforcement,
disposition, or acceptance.
Limitations on liability of secured party.
PART 7. TRANSITION.
Effective date of chapter.
Effect of chapter on transactions or liens entered into or created
before July 1, 2001--Effect on actions, cases, or proceedings.
Effect of division on security interests enforceable before July 1,
Enforceability and perfection of security interest enforceable
immediately prior to July 1, 2001, and subordinate to lien creditor.
Effect of certain actions prior to July 1, 2001.
Conditions to continuing effectiveness of financing statement filed
before July 1, 2001.
Pre-effective-date financing statement--Amendment, continuation,
Conditions to filing initial financing statement or continuation
statement under part.
Determination of priority of conflicting claims to collateral--Dating
priority of security interest.
PART 8. TRANSITION PROVISIONS FOR 2013 AMENDMENTS.
Effective date of SL 2012, ch 238.
Security interest perfected before effective date.
Security interest unperfected before effective date.
Effectiveness of action taken before effective date.
When initial financing statement suffices to continue effectiveness
of financing statement.
Amendment of pre-effective-date financing statement.
Person entitled to file initial financing statement or continuation