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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter25. Uniform Commercial Code. |
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Article9. Secured Transactions |
| Part 1. GENERAL PROVISIONS |
| SUBPART 1. Short Title, Definitions, and General Concepts. |
| § 25-9-101. Short title |
| § 25-9-102. Definitions and index of definitions |
| § 25-9-103. Purchase-money security interest; application of payments; burden of establishing |
| § 25-9-103.1. Production-money crops; production-money obligation; production-money security interest; burden of establishing |
| § 25-9-104. Control of deposit account |
| § 25-9-105. Control of electronic chattel paper |
| § 25-9-106. Control of investment property |
| § 25-9-107. Control of letter-of-credit right |
| § 25-9-108. Sufficiency of description |
| SUBPART 2. Applicability of Article. |
| § 25-9-109. Scope |
| § 25-9-110. Security interests arising under Article 2 or 2A of this Chapter |
| § 25-9-111. Deleted or Recodified |
| § 25-9-112. Deleted or Recodified |
| § 25-9-113. Deleted or Recodified |
| § 25-9-114. Deleted or Recodified |
| § 25-9-115. Deleted or Recodified |
| § 25-9-116. Deleted or Recodified |
| Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement |
| SUBPART 1. Effectiveness and Attachment. |
| § 25-9-201. General effectiveness of security agreement |
| § 25-9-202. Title to collateral immaterial |
| § 25-9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites |
| § 25-9-204. After-acquired property; future advances |
| § 25-9-205. Use or disposition of collateral permissible |
| § 25-9-206. Security interest arising in purchase or delivery of financial asset |
| SUBPART 2. Rights and Duties. |
| § 25-9-207. Rights and duties of secured party having possession or control of collateral |
| § 25-9-208. Additional duties of secured party having control of collateral |
| § 25-9-209. Duties of secured party if account debtor has been notified of assignment |
| § 25-9-210. Request for accounting; request regarding list of collateral or statement of account |
| Part 3. PERFECTION AND PRIORITY |
| SUBPART 1. Law Governing Perfection and Priority. |
| § 25-9-301. Law governing perfection and priority of security interests |
| § 25-9-302. Law governing perfection and priority of agricultural liens |
| § 25-9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title |
| § 25-9-304. Law governing perfection and priority of security interests in deposit accounts |
| § 25-9-305. Law governing perfection and priority of security interests in investment property |
| § 25-9-306. Law governing perfection and priority of security interests in letter-of-credit rights |
| § 25-9-307. Location of debtor |
| SUBPART 2. Perfection. |
| § 25-9-308. When security interest or agricultural lien is perfected; continuity of perfection |
| § 25-9-309. Security interest perfected upon attachment |
| § 25-9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply |
| § 25-9-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties |
| § 25-9-313. When possession by or delivery to secured party perfects security interest without filing |
| § 25-9-314. Perfection by control |
| § 25-9-315. Secured party's rights on disposition of collateral and in proceeds |
| § 25-9-316. Effect of change in governing law |
| SUBPART 3. Priority. |
| § 25-9-317. Interests that take priority over or take free of security interest or agricultural lien |
| § 25-9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers |
| § 25-9-319. Rights and title of consignee with respect to creditors and purchasers |
| § 25-9-320. Buyer of goods |
| § 25-9-321. Licensee of general intangible and lessee of goods in ordinary course of business |
| § 25-9-322. Priorities among conflicting security interests in and agricultural liens on same collateral |
| § 25-9-323. Future advances |
| § 25-9-324. Priority of purchase-money security interests |
| § 25-9-324.1. Priority of production-money security interests and agricultural liens |
| § 25-9-325. Priority of security interests in transferred collateral |
| § 25-9-326. Priority of security interests created by new debtor |
| § 25-9-327. Priority of security interests in deposit account |
| § 25-9-328. Priority of security interests in investment property |
| § 25-9-329. Priority of security interests in letter-of-credit right |
| § 25-9-330. Priority of purchaser of chattel paper or instrument |
| § 25-9-331. Priority of rights of purchasers of instruments, documents, and securities under other Articles; priority of interests in financial assets and security entitlements under Article 8 |
| § 25-9-332. Transfer of money; transfer of funds from deposit account |
| § 25-9-333. Priority of certain liens arising by operation of law |
| § 25-9-334. Priority of security interests in fixtures and crops |
| § 25-9-335. Accessions |
| § 25-9-336. Commingled goods |
| § 25-9-337. Priority of security interests in goods covered by certificate of title |
| § 25-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information |
| § 25-9-339. Priority subject to subordination |
| SUBPART 4. Rights of Banks. |
| § 25-9-340. Effectiveness of right of recoupment or setoff against deposit account |
| § 25-9-341. Bank's rights and duties with respect to deposit account |
| § 25-9-342. Bank's right to refuse to enter into or disclose existence of control agreement |
| Part 4. RIGHTS OF THIRD PARTIES |
| § 25-9-401. Alienability of debtor's rights |
| § 25-9-402. Secured party not obligated on contract of debtor or in tort |
| § 25-9-403. Agreement not to assert defenses against assignee |
| § 25-9-404. Rights acquired by assignee; claims and defenses against assignee |
| § 25-9-405. Modification of assigned contract |
| § 25-9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest |
| § 25-9-408. Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective |
| § 25-9-409. Restrictions on assignment of letter-of-credit rights ineffective |
| Part 5. FILING |
| SUBPART 1. Filing Office; Contents and Effectiveness of Financing Statement. |
| § 25-9-501. Filing offices |
| § 25-9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement |
| § 25-9-503. Name of debtor and secured party |
| § 25-9-504. Indication of collateral |
| § 25-9-504.1. Deleted |
| § 25-9-504.2. Deleted |
| § 25-9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions |
| § 25-9-506. Effect of errors or omissions |
| § 25-9-507. Effect of certain events on effectiveness of financing statement |
| § 25-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement |
| § 25-9-509. Persons entitled to file a record |
| § 25-9-510. Effectiveness of filed record |
| § 25-9-511. Secured party of record |
| § 25-9-512. Amendment of financing statement |
| § 25-9-513. Termination statement |
| § 25-9-514. Assignment of powers of secured party of record |
| § 25-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement |
| § 25-9-516. What constitutes filing; effectiveness of filing |
| § 25-9-517. Effect of indexing errors |
| § 25-9-518. Claim concerning inaccurate or wrongfully filed record |
| SUBPART 2. Duties and Operation of Filing Office. |
| § 25-9-519. Numbering, maintaining, and indexing records; communicating information provided in records |
| § 25-9-520. Acceptance, refusal to accept record, and cancellation of record |
| § 25-9-521. Uniform form of written financing statement and amendment |
| § 25-9-522. Maintenance and destruction of records |
| § 25-9-523. Information from filing office |
| § 25-9-524. Delay by filing office |
| § 25-9-525. Fees |
| § 25-9-526. Filing-office rules |
| § 25-9-527. Reserved for future codification purposes |
| Part 6. DEFAULT |
| SUBPART 1. Default and Enforcement of Security Interest. |
| § 25-9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes |
| § 25-9-602. Waiver and variance of rights and duties |
| § 25-9-603. Agreement on standards concerning rights and duties |
| § 25-9-604. Procedure if security agreement covers real property or fixtures |
| § 25-9-605. Unknown debtor or secondary obligor |
| § 25-9-606. Time of default for agricultural lien |
| § 25-9-607. Collection and enforcement by secured party |
| § 25-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus |
| § 25-9-609. Secured party's right to take possession after default |
| § 25-9-610. Disposition of collateral after default |
| § 25-9-611. Notification before disposition of collateral |
| § 25-9-612. Timeliness of notification before disposition of collateral |
| § 25-9-613. Contents and form of notification before disposition of collateral: general |
| § 25-9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction |
| § 25-9-615. Application of proceeds of disposition; liability for deficiency and right to surplus |
| § 25-9-616. Explanation of calculation of surplus or deficiency |
| § 25-9-617. Rights of transferee of collateral |
| § 25-9-618. Rights and duties of certain secondary obligors |
| § 25-9-619. Transfer of record or legal title |
| § 25-9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral |
| § 25-9-621. Notification of proposal to accept collateral |
| § 25-9-622. Effect of acceptance of collateral |
| § 25-9-623. Right to redeem collateral |
| § 25-9-624. Waiver |
| SUBPART 2. Noncompliance with Article. |
| § 25-9-625. Remedies for secured party's failure to comply with Article |
| § 25-9-626. Action in which deficiency or surplus is in issue |
| § 25-9-627. Determination of whether conduct was commercially reasonable |
| § 25-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor |
| Part 7. TRANSITION |
| § 25-9-701. Effective date |
| § 25-9-702. Savings clause |
| § 25-9-703. Security interest perfected before effective date |
| § 25-9-704. Security interest unperfected before effective date |
| § 25-9-705. Effectiveness of action taken before effective date |
| § 25-9-706. When initial financing statement suffices to continue effectiveness of financing statement |
| § 25-9-707. Amendment of pre-effective-date financing statement |
| § 25-9-708. Persons entitled to file initial financing statement or continuation statement |
| § 25-9-709. Priority |
| § 25-9-710. Special transitional provision for maintaining and searching local-filing office records |