Current through Public Act 171 of the 2024 Legislative Session
Section 440.9309 - Security interest perfected upon attachmentEach of the following security interests is perfected when it attaches:
(a) A purchase-money security interest in consumer goods, except as otherwise provided in section 9311(2) with respect to consumer goods that are subject to a statute or treaty described in section 9311(1).(b) An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles.(c) A sale of a payment intangible.(d) A sale of a promissory note.(e) A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services.(f) A security interest arising under section 2401, 2505, 2711(3), or 2A508(5), until the debtor obtains possession of the collateral.(g) A security interest of a collecting bank arising under section 4210.(h) A security interest of an issuer or nominated person arising under section 5118.(i) A security interest arising in the delivery of a financial asset under section 9206(3).(j) A security interest in investment property created by a broker or securities intermediary.(k) A security interest in a commodity contract or a commodity account created by a commodity intermediary.(l) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder.(m) A security interest created by an assignment of a beneficial interest in a decedent's estate.1962, Act 174, Eff. 1/1/1964 ;--Am. 1987, Act 16, Imd. Eff. 4/24/1987 ;--Am. 1998, Act 278, Imd. Eff. 7/27/1998 ;--Am. 2000, Act 348, Eff. 7/1/2001.