13 Pennsylvania Consolidated Statutes Chapter 93 - Perfection And Priority

• Chapter Notes

Subchapter A.  Law Governing Perfection and Priority

• Section 9301 - Law Governing Perfection And Priority Of Security Interests
  (a) General rule; location of debtor.--Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of...
• Section 9302 - Law Governing Perfection And Priority Of Agricultural Liens
  § 9302. Law governing perfection and priority of agricultural liens. While farm products are located in a jurisdiction, the local law of that jurisdiction...
• Section 9303 - Law Governing Perfection And Priority Of Security Interests In Goods Covered By Certificate Of Title
  § 9303. Law governing perfection and priority of security interests in goods covered by certificate of title. (a) Applicability of section.--This section applies to...
• Section 9304 - Law Governing Perfection And Priority Of Security Interests In Deposit Accounts
  § 9304. Law governing perfection and priority of security interests in deposit accounts. (a) Law of bank's jurisdiction governs.--The local law of a bank's...
• Section 9305 - Law Governing Perfection And Priority Of Security Interests In Investment Property
  § 9305. Law governing perfection and priority of security interests in investment property. (a) Governing law; general rules.--Except as otherwise provided in subsection (c),...
• Section 9306 - Law Governing Perfection And Priority Of Security Interests In Letter-of-credit Rights
  § 9306. Law governing perfection and priority of security interests in letter-of-credit rights. (a) Governing law; issuer's or nominated person's jurisdiction.--Subject to subsection (c),...
• Section 9307 - Location Of Debtor
  (a) Place of business.--As used in this section, the term "place of business" means a place where a debtor conducts its affairs. (b) Debtor's...

Subchapter B.  Perfection

• Section 9308 - When Security Interest Or Agricultural Lien Is Perfected; Continuity Of Perfection
  (a) Perfection of security interest.--Except as otherwise provided in this section and section 9309 (relating to security interest perfected upon attachment), a security interest...
• Section 9309 - Security Interest Perfected Upon Attachment
  The following security interests are perfected when they attach: (1) A purchase-money security interest in consumer goods, except as otherwise provided in section 9311(b)...
• Section 9310 - When Filing Required To Perfect Security Interest Or Agricultural Lien; Security Interests And Agricultural Liens To Which Filing Provisions Do Not Apply
  (a) General rule: perfection by filing.--Except as otherwise provided in subsection (b) and section 9312(b) (relating to control or possession of certain collateral), a...
• Section 9311 - Perfection Of Security Interests In Property Subject To Certain Statutes, Regulations And Treaties
  (a) Security interest subject to other law.--Except as otherwise provided in subsection (d), the filing of a financing statement is not necessary or effective...
• Section 9312 - 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 Filing; Temporary Perfection Without Filing Or Transfer Of Possession
  § 9312. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter- of-credit rights and money;...
• Section 9313 - When Possession By Or Delivery To Secured Party Perfects Security Interest Without Filing
  (a) Perfection by possession or delivery.--Except as otherwise provided in subsection (b), a secured party may perfect a security interest in tangible negotiable documents,...
• Section 9314 - Perfection By Control
  (a) Perfection by control.--A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper or electronic documents may be perfected by control...
• Section 9315 - Secured Party's Rights On Disposition Of Collateral And In Proceeds
  § 9315. Secured party's rights on disposition of collateral and in proceeds. (a) Disposition of collateral: continuation of security interest or agricultural lien; proceeds.--Except...
• Section 9316 - Effect Of Change In Governing Law
  (a) General rule: effect on perfection of change in governing law.--A security interest perfected pursuant to the law of the jurisdiction designated in section...

Subchapter C.  Priority

• Section 9317 - Interests Which Take Priority Over Or Take Free Of Security Interest Or Agricultural Lien
  (a) Conflicting security interests and rights of lien creditors.--A security interest or agricultural lien is subordinate to the rights of all of the following:...
• Section 9318 - No Interest Retained In Right To Payment Which Is Sold; Rights And Title Of Seller Of Account Or Chattel Paper With Respect To Creditors And Purchasers
  § 9318. No interest retained in right to payment which is sold; rights and title of seller of account or chattel paper with respect...
• Section 9319 - Rights And Title Of Consignee With Respect To Creditors And Purchasers
  § 9319. Rights and title of consignee with respect to creditors and purchasers. (a) Consignee has consignor's rights.--Except as otherwise provided in subsection (b),...
• Section 9320 - Buyer Of Goods
  (a) Buyer in ordinary course of business.--Except as otherwise provided in subsection (e), a buyer in ordinary course of business, other than a person...
• Section 9321 - Licensee Of General Intangible And Lessee Of Goods In Ordinary Course Of Business
  § 9321. Licensee of general intangible and lessee of goods in ordinary course of business. (a) Licensee in ordinary course of business.--As used in...
• Section 9322 - Priorities Among Conflicting Security Interests In And Agricultural Liens On Same Collateral
  § 9322. Priorities among conflicting security interests in and agricultural liens on same collateral. (a) General priority rules.--Except as otherwise provided in this section,...
• Section 9323 - Future Advances
  (a) When priority based on time of advance.--Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security...
• Section 9324 - Priority Of Purchase-money Security Interests
  (a) General rule: purchase-money priority.--Except as otherwise provided in subsection (g), a perfected purchase-money security interest in goods other than inventory or livestock has...
• Section 9325 - Priority Of Security Interests In Transferred Collateral
  § 9325. Priority of security interests in transferred collateral. (a) Subordination of security interest in transferred collateral.--Except as otherwise provided in subsection (b), a...
• Section 9326 - Priority Of Security Interests Created By New Debtor
  (a) Subordination of security interest created by new debtor.--Subject to subsection (b), a security interest that is created by a new debtor in collateral...
• Section 9327 - Priority Of Security Interests In Deposit Account
  The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having...
• Section 9328 - Priority Of Security Interests In Investment Property
  The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest of a secured party having control...
• Section 9329 - Priority Of Security Interests In Letter-of-credit Right
  § 9329. Priority of security interests in letter-of-credit right. The following rules govern priority among conflicting security interests in the same letter-of-credit right: (1)...
• Section 9330 - Priority Of Purchaser Of Chattel Paper Or Instrument
  (a) Purchaser's priority: security interest claimed merely as proceeds.--A purchaser of chattel paper has priority over a security interest in the chattel paper which...
• Section 9331 - Priority Of Rights Of Purchasers Of Instruments, Documents And Securities Under Other Divisions; Priority Of Interests In Financial Assets And Security Entitlements Under Division 8
  § 9331. Priority of rights of purchasers of instruments, documents and securities under other divisions; priority of interests in financial assets and security entitlements...
• Section 9332 - Transfer Of Money; Transfer Of Funds From Deposit Account
  § 9332. Transfer of money; transfer of funds from deposit account. (a) Transferee of money.--A transferee of money takes the money free of a...
• Section 9333 - Priority Of Certain Liens Arising By Operation Of Law
  (a) Possessory lien.--As used in this section, the term "possessory lien" means an interest, other than a security interest or an agricultural lien: (1)...
• Section 9334 - Priority Of Security Interests In Fixtures And Crops
  (a) Security interest in fixtures under this division.--A security interest under this division may be created in goods which are fixtures or may continue...
• Section 9335 - Accessions
  (a) Creation of security interest in accession.--A security interest may be created in an accession and continues in collateral which becomes an accession. (b)...
• Section 9336 - Commingled Goods
  (a) Commingled goods.--As used in this section, the term "commingled goods" means goods which are physically united with other goods in such a manner...
• Section 9337 - Priority Of Security Interests In Goods Covered By Certificate Of Title
  § 9337. Priority of security interests in goods covered by certificate of title. If, while a security interest in goods is perfected by any...
• Section 9338 - Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information
  § 9338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. If a security interest or agricultural...
• Section 9339 - Priority Subject To Subordination
  This division does not preclude subordination by agreement by a person entitled to priority.

Subchapter D.  Rights of Bank

• Section 9340 - Effectiveness Of Right Of Recoupment Or Set-off Against Deposit Account
  (a) Exercise of recoupment or set-off.--Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any...
• Section 9341 - Bank's Rights And Duties With Respect To Deposit Account
  § 9341. Bank's rights and duties with respect to deposit account. Except as otherwise provided in section 9340(c) (relating to when set-off ineffective) and...
• Section 9342 - Bank's Right To Refuse To Enter Into Or Disclose Existence Of Control Agreement
  § 9342. Bank's right to refuse to enter into or disclose existence of control agreement. This division does not require a bank to enter...

Last modified: October 8, 2016