California Commercial Code CHAPTER 3 - Perfection and Priority

• Section 9301.
  Except as otherwise provided in Sections 9303 to 9306, inclusive, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and...
• Section 9302.
  While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority...
• Section 9303.
  (a) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of...
• Section 9304.
  (a) The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit...
• Section 9305.
  (a) Except as otherwise provided in subdivision (c), the following rules apply:(1) While a security certificate is located in a jurisdiction, the local law of that jurisdiction...
• Section 9306.
  (a) Subject to subdivision (c), the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and...
• Section 9307.
  (a) In this section, “place of business” means a place where a debtor conducts its affairs.(b) Except as otherwise provided in this section, the following rules determine...
• Section 9308.
  (a) Except as otherwise provided in this section and in Section 9309, a security interest is perfected if it has attached and all of the applicable...
• Section 9309.
  The following security interests are perfected when they attach:(1) A purchase money security interest in consumer goods, except as otherwise provided in subdivision (b) of Section...
• Section 9310.
  (a) Except as otherwise provided in subdivision (b) and in subdivision (b) of Section 9312, a financing statement must be filed to perfect all security interests...
• Section 9311.
  (a) Except as otherwise provided in subdivision (d), the filing of a financing statement is not necessary or effective to perfect a security interest in property...
• Section 9312.
  (a) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.(b) Except as otherwise provided in subdivisions (c) and (d)...
• Section 9313.
  (a) Except as otherwise provided in subdivision (b), a secured party may perfect a security interest in tangible negotiable documents, goods, instruments, money, or tangible chattel...
• Section 9314.
  (a) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under...
• Section 9315.
  (a) Except as otherwise provided in this division and in subdivision (2) of Section 2403, both of the following apply:(1) A security interest or agricultural lien continues...
• Section 9316.
  (a) A security interest perfected pursuant to the law of the jurisdiction designated in subdivision (1) of Section 9301 or in subdivision (c) of Section 9305...
• Section 9317.
  (a) A security interest or agricultural lien is subordinate to the rights of both of the following:(1) A person entitled to priority under Section 9322.(2) Except as otherwise...
• Section 9318.
  (a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral...
• Section 9319.
  (a) Except as otherwise provided in subdivision (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee,...
• Section 9320.
  (a) Except as otherwise provided in subdivision (e), a buyer in ordinary course of business takes free of a security interest created by the buyer’s seller,...
• Section 9321.
  (a) In this section, “licensee in ordinary course of business” means a person that becomes a licensee of a general intangible in good faith, without knowledge...
• Section 9321.1.
  A licensee of nonexclusive rights in a motion picture that is produced pursuant to one or more collective bargaining agreements governed by the laws of...
• Section 9322.
  (a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following...
• Section 9323.
  (a) Except as otherwise provided in subdivision (c), for purposes of determining the priority of a perfected security interest under paragraph (1) of subdivision (a) of...
• Section 9324.
  (a) Except as otherwise provided in subdivision (g), a perfected purchase money security interest in goods other than inventory or livestock has priority over a conflicting...
• Section 9325.
  (a) Except as otherwise provided in subdivision (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created...
• Section 9326.
  (a) Subject to subdivision (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights...
• Section 9327.
  The following rules govern priority among conflicting security interests in the same deposit account:(1) A security interest held by a secured party having control of the...
• Section 9328.
  The following rules govern priority among conflicting security interests in the same investment property:(1) A security interest held by a secured party having control of investment...
• Section 9329.
  The following rules govern priority among conflicting security interests in the same letter-of-credit right:(1) A security interest held by a secured party having control of the...
• Section 9330.
  (a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to...
• Section 9331.
  (a) This division does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of...
• Section 9332.
  (a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights...
• Section 9333.
  (a) In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien which satisfies all of the following conditions:(1) It secures...
• Section 9334.
  (a) A security interest under this division may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest...
• Section 9335.
  (a) A security interest may be created in an accession and continues in collateral that becomes an accession.(b) If a security interest is perfected when the collateral...
• Section 9336.
  (a) In this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a...
• Section 9337.
  If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title...
• Section 9338.
  If a security interest or agricultural lien is perfected by a filed financing statement providing information described in paragraph (5) of subdivision (b) of Section...
• Section 9339.
  This division does not preclude subordination by agreement by a person entitled to priority.(Added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000....
• Section 9340.
  (a) Except as otherwise provided in subdivision (c), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against...
• Section 9341.
  Except as otherwise provided in subdivision (c) of Section 9340, and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties...
• Section 9342.
  This division does not require a bank to enter into an agreement of the kind described in paragraph (2) of subdivision (a) of Section 9104,...

Last modified: October 22, 2018