US Laws, Codes, Statutes & Cases

Chapter 79 — Secured Transactions

 

2007 EDITION

 

SECURED TRANSACTIONS

 

COMMERCIAL TRANSACTIONS

 

GENERAL PROVISIONS

 

(Short Title, Definitions and General Concepts)

 

79.0101     UCC 9-101. Short title

 

79.0102     UCC 9-102. Definitions and index of definitions

 

79.0103     UCC 9-103. Purchase-money security interest; application of payments; burden of establishing

 

79.0104     UCC 9-104. Control of deposit account

 

79.0105     UCC 9-105. Control of electronic chattel paper

 

79.0106     UCC 9-106. Control of investment property

 

79.0107     UCC 9-107. Control of letter-of-credit right

 

79.0108     UCC 9-108. Sufficiency of description

 

(Applicability of Chapter)

 

79.0109     UCC 9-109. Scope

 

79.0110     UCC 9-110. Security interests arising under ORS chapter 72 or 72A

 

EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT

 

(Effectiveness and Attachment)

 

79.0201     UCC 9-201. General effectiveness of security agreement

 

79.0202     UCC 9-202. Title to collateral immaterial

 

79.0203     UCC 9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites

 

79.0204     UCC 9-204. After-acquired property; future advances

 

79.0205     UCC 9-205. Use or disposition of collateral permissible

 

79.0206     UCC 9-206. Security interest arising in purchase or delivery of financial asset

 

(Rights and Duties)

 

79.0207     UCC 9-207. Rights and duties of secured party having possession or control of collateral

 

79.0208     UCC 9-208. Additional duties of secured party having control of collateral

 

79.0209     UCC 9-209. Duties of secured party if account debtor has been notified of assignment

 

79.0210     UCC 9-210. Request for accounting; request regarding list of collateral or statement of account

 

PERFECTION AND PRIORITY

 

(Law Governing Perfection and Priority)

 

79.0301     UCC 9-301. Law governing perfection and priority of security interests

 

79.0302     UCC 9-302. Law governing perfection and priority of agricultural liens

 

79.0303     UCC 9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title

 

79.0304     UCC 9-304. Law governing perfection and priority of security interests in deposit accounts

 

79.0305     UCC 9-305. Law governing perfection and priority of security interests in investment property

 

79.0306     UCC 9-306. Law governing perfection and priority of security interests in letter-of-credit rights

 

79.0307     UCC 9-307. Location of debtor

 

(Perfection)

 

79.0308     UCC 9-308. When security interest or agricultural lien is perfected; continuity of perfection

 

79.0309     UCC 9-309. Security interest perfected upon attachment

 

79.0310     UCC 9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

 

79.0311     UCC 9-311. Perfection of security interests in property subject to certain statutes, regulations and treaties

 

79.0312     UCC 9-312. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights and money; perfection by permissive filing; temporary perfection without filing or transfer of possession

 

79.0313     UCC 9-313. When possession by or delivery to secured party perfects security interest without filing

 

79.0314     UCC 9-314. Perfection by control

 

79.0315     UCC 9-315. Secured party’s rights on disposition of collateral and in proceeds

 

79.0316     UCC 9-316. Continued perfection of security interest following change in governing law

 

(Priority)

 

79.0317     UCC 9-317. Interests that take priority over or take free of security interest or agricultural lien

 

79.0318     UCC 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

 

79.0319     UCC 9-319. Rights and title of consignee with respect to creditors and purchasers

 

79.0320     UCC 9-320. Buyer of goods

 

79.0321     UCC 9-321. Licensee of general intangible and lessee of goods in ordinary course of business

 

79.0322     UCC 9-322. Priorities among conflicting security interests in and agricultural liens on same collateral

 

79.0323     UCC 9-323. Future advances

 

79.0324     UCC 9-324. Priority of purchase-money security interests

 

79.0325     UCC 9-325. Priority of security interests in transferred collateral

 

79.0326     UCC 9-326. Priority of security interests created by new debtor

 

79.0327     UCC 9-327. Priority of security interests in deposit account

 

79.0328     UCC 9-328. Priority of security interests in investment property

 

79.0329     UCC 9-329. Priority of security interests in letter-of-credit right

 

79.0330     UCC 9-330. Priority of purchaser of chattel paper or instrument

 

79.0331     UCC 9-331. Priority of rights of purchasers of instruments, documents and securities under ORS chapters 73, 77 and 78; priority of interests in financial assets and security entitlements under ORS chapter 78

 

79.0332     UCC 9-332. Transfer of money; transfer of funds from deposit account

 

79.0333     UCC 9-333. Priority of certain liens arising by operation of law

 

79.0334     UCC 9-334. Priority of security interests in fixtures and crops

 

79.0335     UCC 9-335. Accessions

 

79.0336     UCC 9-336. Commingled goods

 

79.0337     UCC 9-337. Priority of security interests in goods covered by certificate of title

 

79.0338     UCC 9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information

 

79.0339     UCC 9-339. Priority subject to subordination

 

(Rights of Bank)

 

79.0340     UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account

 

79.0341     UCC 9-341. Bank’s rights and duties with respect to deposit account

 

79.0342     UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement

 

RIGHTS OF THIRD PARTIES

 

79.0401     UCC 9-401. Alienability of debtor’s rights

 

79.0402     UCC 9-402. Secured party not obligated on contract of debtor or in tort

 

79.0403     UCC 9-403. Agreement not to assert defenses against assignee

 

79.0404     UCC 9-404. Rights acquired by assignee; claims and defenses against assignee

 

79.0405     UCC 9-405. Modification of assigned contract

 

79.0406     UCC 9-406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective

 

79.0407     UCC 9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest

 

79.0408     UCC 9-408. Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective

 

79.0409     UCC 9-409. Restrictions on assignment of letter-of-credit rights ineffective

 

FILING

 

(Filing Office; Contents and Effectiveness of Financing Statement)

 

79.0501     UCC 9-501. Filing office

 

79.0502     UCC 9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement

 

79.0503     UCC 9-503. Name of debtor and secured party

 

79.0504     UCC 9-504. Indication of collateral

 

79.0505     UCC 9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions

 

79.0506     UCC 9-506. Effect of errors or omissions

 

79.0507     UCC 9-507. Effect of certain events on effectiveness of financing statement

 

79.0508     UCC 9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement

 

79.0509     UCC 9-509. Persons entitled to file a record

 

79.0510     UCC 9-510. Effectiveness of filed record

 

79.0511     UCC 9-511. Secured party of record

 

79.0512     UCC 9-512. Amendment of financing statement

 

79.0513     UCC 9-513. Termination statement

 

79.0514     UCC 9-514. Assignment of powers of secured party of record

 

79.0515     UCC 9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement; renewal notice

 

79.0516     UCC 9-516. What constitutes filing; effectiveness of filing

 

79.0517     UCC 9-517. Effect of indexing errors

 

79.0518     UCC 9-518. Claim concerning inaccurate or wrongfully filed record

 

(Duties and Operation of Filing Office)

 

79.0519     UCC 9-519. Numbering, maintaining and indexing records; communicating information provided in records

 

79.0520     UCC 9-520. Acceptance and refusal to accept record

 

79.0521     UCC 9-521. Uniform form of written financing statement and amendment

 

79.0522     UCC 9-522. Maintenance and destruction of records

 

79.0523     UCC 9-523. Information from filing office; sale or license of records

 

79.0524     UCC 9-524. Delay by filing office

 

79.0525     UCC 9-525. Fees; rules

 

79.0526     UCC 9-526. Filing-office rules

 

79.0527     UCC 9-527. Duty to report

 

79.0528     Liability of Secretary of State

 

DEFAULT

 

(Default and Enforcement of Security Interest)

 

79.0601     UCC 9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes

 

79.0602     UCC 9-602. Waiver and variance of rights and duties

 

79.0603     UCC 9-603. Agreement on standards concerning rights and duties

 

79.0604     UCC 9-604. Procedure if security agreement covers real property or fixtures

 

79.0605     UCC 9-605. Unknown debtor or secondary obligor

 

79.0606     UCC 9-606. Time of default for agricultural lien

 

79.0607     UCC 9-607. Collection and enforcement by secured party

 

79.0608     UCC 9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus

 

79.0609     UCC 9-609. Secured party’s right to take possession after default

 

79.0610     UCC 9-610. Disposition of collateral after default

 

79.0611     UCC 9-611. Notification before disposition of collateral

 

79.0612     UCC 9-612. Timeliness of notification before disposition of collateral

 

79.0613     UCC 9-613. Contents and form of notification before disposition of collateral: general

 

79.0614     UCC 9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction

 

79.0615     UCC 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus

 

79.0616     UCC 9-616. Explanation of calculation of surplus or deficiency

 

79.0617     UCC 9-617. Rights of transferee of collateral

 

79.0618     UCC 9-618. Rights and duties of certain secondary obligors

 

79.0619     UCC 9-619. Transfer of record or legal title

 

79.0620     UCC 9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral

 

79.0621     UCC 9-621. Notification of proposal to accept collateral

 

79.0622     UCC 9-622. Effect of acceptance of collateral

 

79.0623     UCC 9-623. Right to redeem collateral

 

79.0624     UCC 9-624. Waiver

 

(Noncompliance With Chapter)

 

79.0625     UCC 9-625. Remedies for secured party’s failure to comply with article

 

79.0626     UCC 9-626. Action in which deficiency or surplus is in issue

 

79.0627     UCC 9-627. Determination of whether conduct was commercially reasonable

 

79.0628     UCC 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor

 

CONVERSION TABLE

 

The following table was created by Caroline Ditter and Richard R. Rasmussen. It converts ORS section numbers to UCC Article 9 section numbers. The Legislative Counsel Committee does not guarantee the accuracy or completeness of information in the table.

 

ORS 79.0101................................................. UCC 9-101

ORS 79.0102................................................. UCC 9-102

ORS 79.0102 (1)............................................ UCC 9-102 (a)

ORS 79.0102 (1) (a)...................................... UCC 9-102 (a) (1)

ORS 79.0102 (1) (b)...................................... UCC 9-102 (a) (2)

ORS 79.0102 (1) (c)...................................... UCC 9-102 (a) (3)

ORS 79.0102 (1) (d)...................................... UCC 9-102 (a) (4)

ORS 79.0102 (1) (e)...................................... UCC 9-102 (a) (5)

ORS 79.0102 (1) (f)....................................... UCC 9-102 (a) (6)

ORS 79.0102 (1) (g)...................................... UCC 9-102 (a) (7)

ORS 79.0102 (1) (h)...................................... UCC 9-102 (a) (8)

ORS 79.0102 (1) (i)....................................... UCC 9-102 (a) (9)

ORS 79.0102 (1) (j)....................................... UCC 9-102 (a) (10)

ORS 79.0102 (1) (k)...................................... UCC 9-102 (a) (11)

ORS 79.0102 (1) (L)...................................... UCC 9-102 (a) (12)

ORS 79.0102 (1) (m)..................................... UCC 9-102 (a) (13)

ORS 79.0102 (1) (n)...................................... UCC 9-102 (a) (14)

ORS 79.0102 (1) (o)...................................... UCC 9-102 (a) (15)

ORS 79.0102 (1) (p)...................................... UCC 9-102 (a) (16)

ORS 79.0102 (1) (q)...................................... UCC 9-102 (a) (17)

ORS 79.0102 (1) (r)....................................... UCC 9-102 (a) (18)

ORS 79.0102 (1) (s)....................................... UCC 9-102 (a) (19)

ORS 79.0102 (1) (t)....................................... UCC 9-102 (a) (20)

ORS 79.0102 (1) (u)...................................... UCC 9-102 (a) (21)

ORS 79.0102 (1) (v)...................................... UCC 9-102 (a) (22)

ORS 79.0102 (1) (w)..................................... UCC 9-102 (a) (23)

ORS 79.0102 (1) (x)...................................... UCC 9-102 (a) (24)

ORS 79.0102 (1) (y)...................................... UCC 9-102 (a) (25)

ORS 79.0102 (1) (z)...................................... UCC 9-102 (a) (26)

ORS 79.0102 (1) (aa)..................................... UCC 9-102 (a) (27)

ORS 79.0102 (1) (bb).................................... UCC 9-102 (a) (28)

ORS 79.0102 (1) (cc)..................................... UCC 9-102 (a) (29)

ORS 79.0102 (1) (dd).................................... UCC 9-102 (a) (30)

ORS 79.0102 (1) (ee)..................................... UCC 9-102 (a) (31)

ORS 79.0102 (1) (ff)..................................... UCC 9-102 (a) (32)

ORS 79.0102 (1) (gg).................................... UCC 9-102 (a) (33)

ORS 79.0102 (1) (hh).................................... UCC 9-102 (a) (34)

ORS 79.0102 (1) (ii)...................................... UCC 9-102 (a) (35)

ORS 79.0102 (1) (jj)...................................... UCC 9-102 (a) (36)

ORS 79.0102 (1) (kk).................................... UCC 9-102 (a) (37)

ORS 79.0102 (1) (LL)................................... UCC 9-102 (a) (38)

ORS 79.0102 (1) (mm).................................. UCC 9-102 (a) (39)

ORS 79.0102 (1) (nn).................................... UCC 9-102 (a) (40)

ORS 79.0102 (1) (oo).................................... UCC 9-102 (a) (41)

ORS 79.0102 (1) (pp).................................... UCC 9-102 (a) (42)

ORS 79.0102 (1) (qq).................................... UCC 9-102 (a) (43)

ORS 79.0102 (1) (rr)...................................... UCC 9-102 (a) (44)

ORS 79.0102 (1) (ss)..................................... UCC 9-102 (a) (45)

ORS 79.0102 (1) (tt)...................................... UCC 9-102 (a) (46)

ORS 79.0102 (1) (uu).................................... UCC 9-102 (a) (47)

ORS 79.0102 (1) (vv).................................... UCC 9-102 (a) (48)

ORS 79.0102 (1) (ww).................................. UCC 9-102 (a) (49)

ORS 79.0102 (1) (xx).................................... UCC 9-102 (a) (50)

ORS 79.0102 (1) (yy).................................... UCC 9-102 (a) (51)

ORS 79.0102 (1) (zz)..................................... UCC 9-102 (a) (52)

ORS 79.0102 (1) (aaa)................................... UCC 9-102 (a) (53)

ORS 79.0102 (1) (bbb).................................. UCC 9-102 (a) (54)

ORS 79.0102 (1) (ccc)................................... UCC 9-102 (a) (55)

ORS 79.0102 (1) (ddd)................................. UCC 9-102 (a) (56)

ORS 79.0102 (1) (eee)................................... UCC 9-102 (a) (57)

ORS 79.0102 (1) (fff).................................... UCC 9-102 (a) (58)

ORS 79.0102 (1) (ggg).................................. UCC 9-102 (a) (59)

ORS 79.0102 (1) (hhh).................................. UCC 9-102 (a) (60)

ORS 79.0102 (1) (iii)..................................... UCC 9-102 (a) (61)

ORS 79.0102 (1) (jjj)..................................... UCC 9-102 (a) (62)

ORS 79.0102 (1) (kkk).................................. UCC 9-102 (a) (63)

ORS 79.0102 (1) (LLL)................................. UCC 9-102 (a) (64)

ORS 79.0102 (1) (mmm)............................... UCC 9-102 (a) (65)

ORS 79.0102 (1) (nnn).................................. UCC 9-102 (a) (66)

ORS 79.0102 (1) (ooo).................................. UCC 9-102 (a) (67)

ORS 79.0102 (1) (ppp).................................. UCC 9-102 (a) (68)

ORS 79.0102 (1) (qqq).................................. UCC 9-102 (a) (69)

ORS 79.0102 (1) (rrr).................................... UCC 9-102 (a) (70)

ORS 79.0102 (1) (sss).................................... UCC 9-102 (a) (71)

ORS 79.0102 (1) (ttt).................................... UCC 9-102 (a) (72)

ORS 79.0102 (1) (uuu).................................. UCC 9-102 (a) (73)

ORS 79.0102 (1) (vvv).................................. UCC 9-102 (a) (74)

ORS 79.0102 (1) (www)............................... UCC 9-102 (a) (75)

ORS 79.0102 (1) (xxx).................................. UCC 9-102 (a) (76)

ORS 79.0102 (1) (yyy).................................. UCC 9-102 (a) (77)

ORS 79.0102 (1) (zzz)................................... UCC 9-102 (a) (78)

ORS 79.0102 (1) (aaaa)................................. UCC 9-102 (a) (79)

ORS 79.0102 (1) (bbbb)................................ UCC 9-102 (a) (80)

ORS 79.0102 (2)............................................ UCC 9-102 (b)

ORS 79.0102 (3)............................................ UCC 9-102 (c)

ORS 79.0103................................................. UCC 9-103

ORS 79.0103 (1)............................................ UCC 9-103 (a)

ORS 79.0103 (1) (a)...................................... UCC 9-103 (a) (1)

ORS 79.0103 (1) (b)...................................... UCC 9-103 (a) (2)

ORS 79.0103 (2)............................................ UCC 9-103 (b)

ORS 79.0103 (2) (a)...................................... UCC 9-103 (b) (1)

ORS 79.0103 (2) (b)...................................... UCC 9-103 (b) (2)

ORS 79.0103 (2) (c)...................................... UCC 9-103 (b) (3)

ORS 79.0103 (3)............................................ UCC 9-103 (c)

ORS 79.0103 (3) (a)...................................... UCC 9-103 (c) (1)

ORS 79.0103 (3) (b)...................................... UCC 9-103 (c) (2)

ORS 79.0103 (4)............................................ UCC 9-103 (d)

ORS 79.0103 (5)............................................ UCC 9-103 (e)

ORS 79.0103 (5) (a)...................................... UCC 9-103 (e) (1)

ORS 79.0103 (5) (b)...................................... UCC 9-103 (e) (2)

ORS 79.0103 (5) (c)...................................... UCC 9-103 (e) (3)