§ 9-109(d)(13). UCC § 9 … In this article: (1) “Accession” means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. (30) Chattel paper consists of a record or records evidencing a monetary obligation and either a security interest in specific goods or a lease of specific goods. Outright sales of such hybrid chattel paper will be within the scope of Article 9, as will sales of electronic chattel paper. Some common asset types defined under UCC Article 9 include accounts, chattel paper, documents, equipment, general intangibles, instruments, inventory, and investment property. Defined in the UCC as chattel paper evidenced by a record or records consisting of information stored in an electronic medium (UCC 9-102(a)(31)). Except as otherwise provided in Section 9-315(c) and for : ; UCC - Uniform Commercial Code Article 9 - SECURED TRANSACTIONS Part 4 - (9-401 - 9-409) RIGHTS OF THIRD PARTIES 9-406 - Discharge of Account Debtor; Notification of Assignment; Identification and Proof of Assignment; Restrictions on Assignment of Accounts, Chattel Paper Chattel paper A record or records evidencing both 1) a monetary obligation; AND 2) a Security Interest or lease in specific goods. chattel paper (Rev. 1992.4 By contrast, the electronic chattel paper provisions of Revised Article 9 were a major innovation introduced late in the drafting process that were designed to remove an obstacle to electronic commerce that has not yet been widely recognized and debated. (6) Agreement and Possession: UCC 9-203 and UCC 9-313 possession (a) Collateral must be subject to possession.
Chattel paper is an asset type over which an entity can grant a security interest under Article 9 of the UCC.
Electronic chattel paper is an asset type over which an entity can grant a security interest under Article 9 of the UCC.
Chattel Paper means all "chattel paper" as defined in Article 9 of the UCC, including, without limitation, "electronic chattel paper" or "tangible chattel paper", as each term is defined in Article 9 of the UCC. 42a-9-105. Definitions. A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that: (1) a single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable; Article 9.Chattel paper is primarily “a record or records that evidence both a monetary obligation and a security interest in specific goods … or a lease of specific goods.” Stocks and bonds are examples of paper … This article may be cited as uniform commercial code -secured transactions. (a) A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned. See § 9‑102. Collateral that is subject to possession include: (i) Negotiable documents (ii) Goods (iii) Instruments (iv) Money or (v) Tangible Chattel Paper (b) Creditor must have possession under UCC 9-313 (i) Creditor has actual possession or (a) [Article 9 definitions.] (b) [Control or possession of certain collateral.] A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. § 9-102(a)(11). See Rev. “Chattel paper” is widely used in certain industries to finance the purchase of equipment, and includes loans and leases. UCC 9 will also apply to deposit accounts that represent proceeds from other collateral. Chattel Paper Priorities Under U.C.C. (2) "Account", except as used in "account for", means a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has … 74, p. 1055, 1999 Abstract When UCC Article 9 was revised in 1998, a new provision governing “electronic chattel paper” (ECP) was added. 2. In this article: (1) "Accession" means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.
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