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Commercial Code - COM - COM § 9105
Commercial Code - COM - COM § 9105
(a) A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy wa
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Commercial Code - COM - COM § 9105.1
Commercial Code - COM - COM § 9105.1
(a) A person has control of electronic money if each of the following conditions is satisfied: (1) The electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded gives the person all of the follo
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Commercial Code - COM - COM § 9106
Commercial Code - COM - COM § 9106
(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8106. (b) A secured party has control of a commodity contract if either of the following conditions is satisfied: (1) The secured party is the commodity in
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Commercial Code - COM - COM § 9107
Commercial Code - COM - COM § 9107
A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under subdivision (c) of Section
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Commercial Code - COM - COM § 9107.1
Commercial Code - COM - COM § 9107.1
(a) A secured party has control of a controllable electronic record as provided in Section 12105. (b) A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the
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Commercial Code - COM - COM § 9107.2
Commercial Code - COM - COM § 9107.2
(a) A person that has control under Section 9104, 9105, or 9105.1 is not required to acknowledge that it has control on behalf of another person. (b) If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law
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Commercial Code - COM - COM § 9108
Commercial Code - COM - COM § 9108
(a) Except as otherwise provided in subdivisions (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described. (b) Except as otherwise provided in subdivision (d), a description of collat
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Commercial Code - COM - COM § 9109
Commercial Code - COM - COM § 9109
(a) Except as otherwise provided in subdivisions (c) and (d), this division applies to each of the following: (1) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract. (2) An agricultural lien. (3) A sale of accounts
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Commercial Code - COM - COM § 9110
Commercial Code - COM - COM § 9110
A security interest arising under Section 2401 or 2505, or under subdivision (3) of Section 2711, or subdivision (e) of Section 10508 is subject to this division. However, until the debtor obtains possession of the goods, all of the following apply: (1) The security interest is e
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Commercial Code - COM - COM § 9201
Commercial Code - COM - COM § 9201
(a) Except as otherwise provided in this code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) A transaction subject to this division is subject to any applicable rule of law which esta
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Commercial Code - COM - COM § 9202
Commercial Code - COM - COM § 9202
Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor.
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Commercial Code - COM - COM § 9203
Commercial Code - COM - COM § 9203
(a) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. (b) Except as otherwise provided in subdivisions (c) to (i), inclusive, a security interes
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Commercial Code - COM - COM § 9204
Commercial Code - COM - COM § 9204
(a) Except as otherwise provided in subdivision (b), a security agreement may create or provide for a security interest in after-acquired collateral. (b) Subject to subdivision (c), a security interest does not attach under a term constituting an after-acquired property clause to
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Commercial Code - COM - COM § 9205
Commercial Code - COM - COM § 9205
(a) A security interest is not invalid or fraudulent against creditors solely because either of the following applies: (1) The debtor has the right or ability to do any of the following: (A) Use, commingle, or dispose of all or part of the collateral, including returned or reposs
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Commercial Code - COM - COM § 9206
Commercial Code - COM - COM § 9206
(a) A security interest in favor of a securities intermediary attaches to a person’s security entitlement if both of the following conditions are satisfied: (1) The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated
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Commercial Code - COM - COM § 9207
Commercial Code - COM - COM § 9207
(a) Except as otherwise provided in subdivision (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preser
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Commercial Code - COM - COM § 9208
Commercial Code - COM - COM § 9208
(a) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Within 10 days after receiving a signed demand by the debtor, all of the following apply:
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Commercial Code - COM - COM § 9209
Commercial Code - COM - COM § 9209
(a) Except as otherwise provided in subdivision (c), this section applies if both of the following conditions are satisfied: (1) There is no outstanding secured obligation. (2) The secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Wi
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Commercial Code - COM - COM § 9210
Commercial Code - COM - COM § 9210
(a) In this section: (1) “Request” means a record of a type described in paragraph (2), (3), or (4). (2) “Request for an accounting” means a record signed by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonabl
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Commercial Code - COM - COM § 9301
Commercial Code - COM - COM § 9301
Except as otherwise provided in Sections 9303 to 9306.2, inclusive, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral: (1) Except as otherwise provided in this section, whil
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Commercial Code - COM - COM § 9302
Commercial Code - COM - COM § 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 of an agricultural lien on the farm products.
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Commercial Code - COM - COM § 9303
Commercial Code - COM - COM § 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 title the goods are covered and the goods or the debtor. (b) Goods become covered by a certificate of title when a valid
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Commercial Code - COM - COM § 9304
Commercial Code - COM - COM § 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 account maintained with that bank even if the transaction does not bear any relation to the bank’s jurisdiction. (b) The
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Commercial Code - COM - COM § 9305
Commercial Code - COM - COM § 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 governs perfection, the effect of perfection or nonperfection, and the priority of a security interest
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Commercial Code - COM - COM § 9306
Commercial Code - COM - COM § 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 the priority of a security interest in a letter-of-credit right if the issuer’s jurisdiction or nomin