2010 Arizona Revised Statutes
Title 47 - Uniform Commercial Code

Chapter 1 GENERAL PROVISIONS
Article 1 Short Title, Construction, Application and Subject Matter of the Title
47-1101 Short title
47-1102 Scope of chapter
47-1103 Construction to promote purposes and policies; applicability of supplemental principles of law
47-1104 Construction against implied repeal
47-1105 Severability
47-1106 Use of singular and plural; gender
47-1107 Section captions
47-1108 Relation to electronic signatures in global and national commerce act
Article 2 General Definitions and Principles of Interpretation
47-1201 General definitions
47-1202 Notice; knowledge
47-1203 Lease distinguished from security interest
47-1204 Value
47-1205 Reasonable time; "seasonably"
47-1206 Presumptions
Article 3 Territorial Applicability and General Rules
47-1301 Territorial applicability; parties' power to choose applicable law
47-1302 Variation by agreement
47-1303 Course of performance; course of dealing and usage of trade
47-1304 Obligation of good faith
47-1305 Remedies to be liberally administered
47-1306 Waiver or renunciation of claim or right after breach
47-1307 Prima facie evidence by third party documents
47-1308 Performance or acceptance under reservation of rights
47-1309 Option to accelerate at will
47-1310 Subordinated obligation
Chapter 2 SALES
Article 1 Short Title, General Construction and Subject Matter
47-2101 Short title
47-2102 Scope; certain security and other transactions excluded from this chapter
47-2103 Definitions and index of definitions
47-2104 Definitions: "merchant"; "between merchants"; "financing agency"
47-2105 Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit"
47-2106 Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation"
47-2107 Goods to be severed from realty; recording
Article 2 Form, Formation and Readjustment of Contract
47-2201 Formal requirements; statute of frauds
47-2202 Final written expression: parol or extrinsic evidence
47-2203 Seals inoperative
47-2204 Formation in general
47-2205 Firm offers
47-2206 Offer and acceptance in formation of contract
47-2207 Additional terms in acceptance or confirmation
47-2209 Modification, rescission and waiver
47-2210 Delegation of performance; assignment of rights
Article 3 General Obligation and Construction of Contract
47-2301 General obligations of parties
47-2302 Unconscionable contract or clause
47-2303 Allocation or division of risks
47-2304 Price payable in money, goods, realty, or otherwise
47-2305 Open price term
47-2306 Output, requirements and exclusive dealings
47-2307 Delivery in single lot or several lots
47-2308 Absence of specified place for delivery
47-2309 Absence of specific time provisions; notice of termination
47-2310 Open time for payment or running of credit; authority to ship under reservation
47-2311 Options and cooperation respecting performance
47-2312 Warranty of title and against infringement; buyer's obligation against infringement
47-2313 Express warranties by affirmation, promise, description, sample
47-2314 Implied warranty: merchantability; usage of trade
47-2315 Implied warranty: fitness for particular purpose
47-2316 Exclusion or modification of warranties
47-2317 Cumulation and conflict of warranties express or implied
47-2318 Third party beneficiaries of warranties express or implied
47-2319 F.O.B. and F.A.S. terms
47-2320 C.I.F. and C. & F. terms
47-2321 C.I.F. or C. & F.: "net landed weights"; "payment on arrival"; warranty of condition on arrival
47-2322 Delivery "ex-ship"
47-2323 Form of bill of lading required in overseas shipment; "overseas"
47-2324 "No arrival, no sale" term
47-2325 "Letter of credit" term; "confirmed credit"
47-2326 Sale on approval and sale or return; rights of creditors
47-2327 Special incidents of sale on approval and sale or return
47-2328 Sale by auction
Article 4 Title, Creditors and Good Faith Purchases
47-2401 Passing of title; reservation for security; limited application of this section
47-2402 Rights of seller's creditors against sold goods
47-2403 Power to transfer; good faith purchase of goods; "entrusting"
Article 5 Performance
47-2501 Insurable interest in goods; manner of identification of goods
47-2502 Buyer's right to goods on seller's insolvency
47-2503 Manner of seller's tender of delivery
47-2504 Shipment by seller
47-2505 Seller's shipment under reservation
47-2506 Rights of financing agency
47-2507 Effect of seller's tender; delivery on condition
47-2508 Cure by seller of improper tender or delivery; replacement
47-2509 Risk of loss in the absence of breach
47-2510 Effect of breach on risk of loss
47-2511 Tender of payment by buyer; payment by check
47-2512 Payment by buyer before inspection
47-2513 Buyer's right to inspection of goods
47-2514 When documents deliverable on acceptance; when on payment
47-2515 Preserving evidence of goods in dispute
Article 6 Breach, Repudiation and Excuse
47-2601 Buyer's rights on improper delivery
47-2602 Manner and effect of rightful rejection
47-2603 Merchant buyer's duties as to rightfully rejected goods
47-2604 Buyer's options as to salvage of rightfully rejected goods
47-2605 Waiver of buyer's objections by failure to particularize
47-2606 What constitutes acceptance of goods
47-2607 Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over
47-2608 Revocation of acceptance in whole or in part
47-2609 Right to adequate assurance of performance
47-2610 Anticipatory repudiation
47-2611 Retraction of anticipatory repudiation
47-2612 "Installment contract"; breach
47-2613 Casualty to identified goods
47-2614 Substituted performance
47-2615 Excuse by failure of presupposed conditions
47-2616 Procedure on notice claiming excuse
Article 7 Remedies
47-2701 Remedies for breach of collateral contracts not impaired
47-2702 Seller's remedies on discovery of buyer's insolvency
47-2703 Seller's remedies in general
47-2704 Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods
47-2705 Seller's stoppage of delivery in transit or otherwise
47-2706 Seller's resale including contract for resale
47-2707 "Person in the position of a seller"
47-2708 Seller's damages for non-acceptance or repudiation
47-2709 Action for the price
47-2710 Seller's incidental damages
47-2711 Buyer's remedies in general; buyer's security interest in rejected goods
47-2712 "Cover"; buyer's procurement of substitute goods
47-2713 Buyer's damages for non-delivery or repudiation
47-2714 Buyer's damages for breach in regard to accepted goods
47-2715 Buyer's incidental and consequential damages
47-2716 Buyer's right to specific performance or replevin
47-2717 Deduction of damages from the price
47-2718 Liquidation or limitation of damages; deposits
47-2719 Contractual modification or limitation of remedy
47-2720 Effect of "cancellation" or "rescission" on claims for antecedent breach
47-2721 Remedies for fraud
47-2722 Who can sue third parties for injury to goods
47-2723 Proof of market price: time and place
47-2724 Admissibility of market quotations
47-2725 Statute of limitations in contracts for sale
Chapter 3 NEGOTIABLE INSTRUMENTS
Article 1 General Provisions and Definitions
47-3101 Short title
47-3102 Subject matter
47-3103 Definitions
47-3104 Negotiable instrument
47-3105 Issue of instrument
47-3106 Unconditional promise or order
47-3107 Instrument payable in foreign money
47-3108 Payable on demand or at definite time
47-3109 Payable to bearer or to order
47-3110 Identification of person to whom instrument is payable
47-3111 Place of payment
47-3112 Interest
47-3113 Date of instrument
47-3114 Contradictory terms of instrument
47-3115 Incomplete instrument
47-3116 Joint and several liability; contribution
47-3117 Other agreements affecting instrument
47-3118 Statute of limitations
47-3119 Notice of right to defend action
Article 2 Negotiation, Transfer and Indorsement
47-3201 Negotiation
47-3202 Negotiation subject to rescission
47-3203 Transfer of instrument; rights acquired by transfer
47-3204 Indorsement
47-3205 Special indorsement; blank indorsement; anomalous indorsement
47-3206 Restrictive indorsement
47-3207 Reacquisition
Article 3 Enforcement of Instruments
47-3301 Person entitled to enforce instrument
47-3302 Holder in due course
47-3303 Value and consideration
47-3304 Overdue instrument
47-3305 Defenses and claims in recoupment
47-3306 Claims to an instrument
47-3307 Notice of breach of fiduciary duty
47-3308 Proof of signatures and status as holder in due course
47-3309 Enforcement of lost, destroyed or stolen instrument
47-3310 Effect of instrument on obligation for which taken
47-3311 Accord and satisfaction by use of instrument
47-3312 Lost, destroyed or stolen cashier's check, teller's check or certified check
Article 4 Liability of Parties
47-3401 Signature
47-3402 Signature by representative
47-3403 Unauthorized signature
47-3404 Impostors; fictitious payees
47-3405 Employer's responsibility for fraudulent indorsement by employee
47-3406 Negligence contributing to forged signature or alteration of instrument
47-3407 Alteration
47-3408 Drawee not liable on unaccepted draft
47-3409 Acceptance of draft; certified check
47-3410 Acceptance varying draft
47-3411 Refusal to pay cashier's checks, teller's checks and certified checks
47-3412 Obligation of issuer of note or cashier's check
47-3413 Obligation of acceptor
47-3414 Obligation of drawer
47-3415 Obligation of indorser
47-3416 Transfer warranties
47-3417 Presentment warranties
47-3418 Payment or acceptance by mistake
47-3419 Instruments signed for accommodation
47-3420 Conversion of instrument
Article 5 Dishonor
47-3501 Presentment
47-3502 Dishonor
47-3503 Notice of dishonor
47-3504 Excused presentment and notice of dishonor
47-3505 Evidence of dishonor
Article 6 Discharge and Payment
47-3601 Discharge and effect of discharge
47-3602 Payment
47-3603 Tender of payment
47-3604 Discharge by cancellation or renunciation
47-3605 Discharge of indorsers and accommodation parties
Chapter 4 BANK DEPOSITS AND COLLECTIONS
Article 1 General Provisions and Definitions
47-4101 Short title
47-4102 Applicability
47-4103 Variation by agreement; measure of damages; action constituting ordinary care
47-4104 Definitions and index of definitions
47-4105 "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"
47-4106 Payable through or payable at bank; collecting bank
47-4107 Separate office of bank
47-4108 Time of receipt of items
47-4109 Delays
47-4110 Electronic presentment
47-4111 Statute of limitations
Article 2 Collection of Items; Depositary and Collecting Banks
47-4201 Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed "pay any bank"
47-4202 Responsibility for collection or return; when action timely
47-4203 Effect of instructions
47-4204 Methods of sending and presenting; sending directly to payor bank
47-4205 Depositary bank holder of unindorsed item
47-4206 Transfer between banks
47-4207 Transfer warranties
47-4208 Presentment warranties
47-4209 Encoding and retention warranties
47-4210 Security interest of collecting bank in items, accompanying documents and proceeds
47-4211 When bank gives value for purposes of holder in due course
47-4212 Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser
47-4213 Medium and time of settlement by bank
47-4214 Right of charge-back or refund; liability of collecting bank; return of item
47-4215 Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal
47-4216 Insolvency and preference
Article 3 Collection of Items; Payor Banks
47-4301 Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank
47-4302 Payor bank's responsibility for late return of item
47-4303 When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified
Article 4 Relationship Between Payor Bank and Its Customer
47-4401 When bank may charge customer's account
47-4402 Bank's liability to customer for wrongful dishonor; time of determining insufficiency of amount
47-4403 Customer's right to stop payment; burden of proof of loss
47-4404 Bank not obligated to pay check more than six months old
47-4405 Death or incompetence of customer
47-4406 Customer's duty to discover and report unauthorized signature or alteration
47-4407 Payor bank's right to subrogation on improper payment
Article 5 Collection of Documentary Drafts
47-4501 Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
47-4502 Presentment of "on arrival" drafts
47-4503 Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
47-4504 Privilege of presenting bank to deal with goods; security interest for expenses
Chapter 5 LETTERS OF CREDIT
47-5101 Short title
47-5102 Definitions
47-5103 Scope
47-5104 Formal requirements
47-5105 Consideration
47-5106 Issuance; amendment; cancellation; duration
47-5107 Confirmer; nominated person
47-5108 Issuer's rights and obligations
47-5109 Fraud and forgery
47-5110 Warranties
47-5111 Remedies
47-5112 Transfer of letter of credit
47-5113 Transfer by operation of law
47-5114 Assignment of proceeds
47-5115 Statute of limitations
47-5116 Choice of law and forum
47-5117 Subrogation of issuer, applicant and nominated person
47-5118 Security interest of issuer or nominated person
Chapter 7 DOCUMENTS OF TITLE
Article 1 General
47-7101 Short title
47-7102 Definitions and index of definitions
47-7103 Relation of chapter to treaty or statute
47-7104 Negotiable and nonnegotiable document of title
47-7105 Reissuance in alternative medium
47-7106 Control of electronic document of title
Article 2 Warehouse Receipts: Special Provisions
47-7201 Person that may issue a warehouse receipt; storage under bond
47-7202 Form of warehouse receipt; effect of omission
47-7203 Liability for nonreceipt or misdescription
47-7204 Duty of care; contractual limitation of warehouse's liability
47-7205 Title under warehouse receipt defeated in certain cases
47-7206 Termination of storage at warehouse's option
47-7207 Goods must be kept separate; fungible
47-7208 Altered warehouse receipts
47-7209 Lien of warehouse
47-7210 Enforcement of warehouse's liens
Article 3 Bills of Lading: Special Provisions
47-7301 Liability for nonreceipt or misdescription; "said to contain"; "shipper's weight, load and count"; improper handling
47-7302 Through bills of lading and similar documents of title
47-7303 Diversion; reconsignment; change of instructions
47-7304 Tangible bills of lading in a set
47-7305 Destination bills
47-7306 Altered bills of lading
47-7307 Lien of carrier
47-7308 Enforcement of carrier's lien
47-7309 Duty of care; contractual limitation of carrier's liability
Article 4 Warehouse Receipts and Bills of Lading: General Obligations
47-7401 Irregularities in issue of receipt or bill or conduct of issuer
47-7402 Duplicate document of title; overissue
47-7403 Obligation of bailee to deliver; excuse
47-7404 No liability for good faith delivery pursuant to document of title
Article 5 Warehouse Receipts and Bills of Lading: Negotiation and Transfer
47-7501 Form of negotiation and requirements of due negotiation
47-7502 Rights acquired by due negotiation
47-7503 Document of title to goods defeated in certain cases
47-7504 Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery
47-7505 Indorser not guarantor for other parties
47-7506 Delivery without indorsement; right to compel indorsement
47-7507 Warranties on negotiation or delivery of document of title
47-7508 Warranties of collecting bank as to documents of title
47-7509 Adequate compliance with commercial contract
Article 6 Warehouse Receipts and Bills of Lading: Miscellaneous Provisions
47-7601 Lost, stolen or destroyed documents of title
47-7602 Judicial process against goods covered by negotiable document of title
47-7603 Conflicting claims; interpleader
Article 7 Miscellaneous Provisions
47-7703 Applicability
47-7704 Savings clause
Chapter 8 INVESTMENT SECURITIES
Article 1 Short Title and General Matters
47-8101 Short title
47-8102 Definitions
47-8103 Rules for determining whether certain obligations and interests as securities or financial assets
47-8104 Acquisition of security or financial asset or interest therein
47-8105 Notice of adverse claim
47-8106 Control
47-8107 Whether indorsement, instruction or entitlement order is effective
47-8108 Warranties in direct holding
47-8109 Warranties in indirect holding
47-8110 Applicability; choice of law
47-8111 Clearing corporation rules
47-8112 Creditor's legal process
47-8113 Statute of frauds inapplicable
47-8114 Evidentiary rules concerning certificated securities
47-8115 Securities intermediary and others not liable to adverse claimant
47-8116 Securities intermediary as purchaser for value
Article 2 Issue and Issuer
47-8201 Issuer
47-8202 Issuer's responsibility and defenses; notice of defect or defense
47-8203 Staleness as notice of defect or defense
47-8204 Effect of issuer's restriction on transfer
47-8205 Effect of unauthorized signature on security certificate
47-8206 Completion or alteration of security certificate
47-8207 Rights and duties of issuer with respect to registered owners
47-8208 Effect of signature of authenticating trustee, registrar or transfer agent
47-8209 Issuer's lien
47-8210 Overissue
Article 3 Transfer of Certificated and Uncertificated Securities
47-8301 Delivery
47-8302 Rights of purchaser
47-8303 Protected purchaser
47-8304 Indorsement
47-8305 Instruction
47-8306 Effect of guaranteeing signature, indorsement or instruction
47-8307 Purchaser's right to requisites for registration of transfer
Article 4 Registration
47-8401 Duty of issuer to register transfer
47-8402 Assurance that indorsement or instruction is effective; definitions
47-8403 Demand that issuer not register transfer
47-8404 Wrongful registration
47-8405 Replacement of lost, destroyed or wrongfully taken security certificate
47-8406 Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate
47-8407 Authenticating trustee, transfer agent and registrar
Article 5 Security Entitlements
47-8501 Securities account; acquisition of security entitlement from securities intermediary
47-8502 Assertion of adverse claim against entitlement holder
47-8503 Property interest of entitlement holder in financial asset held by securities intermediary
47-8504 Duty of securities intermediary to maintain financial asset
47-8505 Duty of securities intermediary with respect to payments and distributions
47-8506 Duty of securities intermediary to exercise rights as directed by entitlement holder
47-8507 Duty of securities intermediary to comply with entitlement order
47-8508 Duty of securities intermediary to change entitlement holder's position to other form of security holding
47-8509 Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder
47-8510 Rights of purchaser of security entitlement from entitlement holder
47-8511 Priority among security interests and entitlement holders
Chapter 9 SECURED TRANSACTIONS
Article 1 General Provisions
47-9101 Short title
47-9102 Definitions and index of definitions
47-9103 Purchase money security interest; application of payments; burden of establishing
47-9104 Control of deposit account
47-9105 Control of electronic chattel paper
47-9106 Control of investment property
47-9107 Control of letter-of-credit right
47-9108 Sufficiency of description
47-9109 Scope
47-9110 Security interests arising under sales and leases
Article 2 Effectiveness of Security Agreement, Attachment of Security Interest and Rights of Parties to Security Agreement
47-9201 General effectiveness of security agreement
47-9202 Title to collateral immaterial
47-9203 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites
47-9204 After-acquired property; future advances
47-9205 Use or disposition of collateral permissible
47-9206 Security interest arising in purchase or delivery of financial asset
47-9207 Rights and duties of secured party having possession or control of collateral
47-9208 Additional duties of secured party having control of collateral
47-9209 Duties of secured party if account debtor has been notified of assignment
47-9210 Request for accounting; request regarding list of collateral or statement of account
Article 3 Perfection and Priority
47-9301 Law governing perfection and priority of security interests
47-9302 Law governing perfection and priority of agricultural liens
47-9303 Law governing perfection and priority of security interests in goods covered by a certificate of title
47-9304 Law governing perfection and priority of security interests in deposit accounts
47-9305 Law governing perfection and priority of security interests in investment property
47-9306 Law governing perfection and priority of security interests in letter-of-credit rights
47-9307 Location of debtor
47-9308 When security interest or agricultural lien is perfected; continuity of perfection
47-9309 Security interest perfected on attachment
47-9310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply
47-9311 Perfection of security interests in property subject to certain statutes, regulations and treaties
47-9312 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
47-9313 When possession by or delivery to secured party perfects security interest without filing
47-9314 Perfection by control
47-9315 Secured party's rights on disposition of collateral and in proceeds
47-9316 Continued perfection of security interest following change in governing law
47-9317 Interests that take priority over or take free of security interest or agricultural lien
47-9318 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
47-9319 Rights and title of consignee with respect to creditors and purchasers
47-9320 Buyer of goods
47-9321 Licensee of general intangible and lessee of goods in ordinary course of business
47-9322 Priorities among conflicting security interests in and agricultural liens on same collateral
47-9323 Future advances
47-9324 Priority of purchase money security interests
47-9325 Priority of security interests in transferred collateral
47-9326 Priority of security interests created by new debtor
47-9327 Priority of security interests in deposit account
47-9328 Priority of security interests in investment property
47-9329 Priority of security interests in letter-of-credit right
47-9330 Priority of purchaser of chattel paper or instrument
47-9331 Priority of rights of purchasers of instruments, documents and securities under other chapters; priority of interests in financial assets and security entitlements under chapter 8 of this title
47-9332 Transfer of money; transfer of funds from deposit account
47-9333 Priority of certain liens arising by operation of law
47-9334 Priority of security interests in fixtures and crops
47-9335 Accessions
47-9336 Commingled goods
47-9337 Priority of security interests in goods covered by certificate of title
47-9338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
47-9339 Priority subject to subordination
47-9340 Effectiveness of right of recoupment or setoff against deposit account
47-9341 Bank's rights and duties with respect to deposit account
47-9342 Bank's right to refuse to enter into or disclose existence of control agreement
Article 4 Rights of Third Parties
47-9401 Alienability of debtor's rights
47-9402 Secured party not obligated on contract of debtor or in tort
47-9403 Agreement not to assert defenses against assignee
47-9404 Rights acquired by assignee; claims and defenses against assignee
47-9405 Modification of assigned contract
47-9406 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
47-9407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest
47-9408 Restrictions on assignment of promissory notes, health‑care‑insurance receivables and certain general intangibles ineffective
47-9409 Restrictions on assignment of letter‑of‑credit rights ineffective
Article 5 Filing
47-9501 Filing office
47-9502 Contents of financing statement; record of mortgage as financing statement; time of filing financing statement
47-9503 Name of debtor and secured party
47-9504 Indication of collateral
47-9505 Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions
47-9506 Effect of errors or omissions
47-9507 Effect of certain events on effectiveness of financing statement
47-9508 Effectiveness of financing statement if new debtor becomes bound by security agreement
47-9509 Persons entitled to file a record
47-9510 Effectiveness of filed record
47-9511 Secured party of record
47-9512 Amendment of financing statement
47-9513 Termination statement
47-9514 Assignment of powers of secured party of record
47-9515 Duration and effectiveness of financing statement; effect of lapsed financing statement
47-9516 What constitutes filing; effectiveness of filing
47-9517 Effect of indexing errors
47-9518 Claim concerning inaccurate or wrongfully filed record
47-9519 Numbering, maintaining and indexing records; communicating information provided in records
47-9520 Acceptance and refusal to accept record
47-9521 Uniform form of written financing statement and amendment
47-9522 Maintenance and destruction of records
47-9523 Information from filing office; sale or license of records
47-9524 Delay by filing office
47-9525 Fees
47-9526 Filing office rules
47-9527 Unauthorized records; material misstatements; false claims; liability; special action; damages; violation; classification
47-9528 Nonconsensual lien
Article 6 Default
47-9601 Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes
47-9602 Waiver and variance of rights and duties
47-9603 Agreement on standards concerning rights and duties
47-9604 Procedure if security agreement covers real property or fixtures
47-9605 Unknown debtor or secondary obligor
47-9606 Time of default for agricultural lien
47-9607 Collection and enforcement by secured party
47-9608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus
47-9609 Secured party's right to take possession after default
47-9610 Disposition of collateral after default
47-9611 Notification before disposition of collateral
47-9612 Timeliness of notification before disposition of collateral
47-9613 Contents and form of notification before disposition of collateral; general
47-9614 Contents and form of notification before disposition of collateral: consumer goods transaction
47-9615 Application of proceeds of disposition; liability for deficiency and right to surplus
47-9616 Explanation of calculation of surplus or deficiency; definitions
47-9617 Rights of transferee of collateral
47-9618 Rights and duties of certain secondary obligors
47-9619 Transfer of record or legal title; definition
47-9620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral
47-9621 Notification of proposal to accept collateral
47-9622 Effect of acceptance of collateral
47-9623 Right to redeem collateral
47-9624 Waiver
47-9625 Remedies for secured party's failure to comply with chapter
47-9626 Action in which deficiency or surplus is in issue
47-9627 Determination of whether conduct was commercially reasonable
47-9628 Nonliability and limitation on liability of secured party; liability of secondary obligor
Article 7 Transition
47-9701 Effective date
47-9702 Savings clause
47-9703 Security interest perfected before effective date
47-9704 Security interest unperfected before effective date
47-9705 Effectiveness of action taken before effective date
47-9706 When initial financing statement suffices as continuation statement
47-9707 Amendment of pre‑effective‑date financing statement; definition
47-9708 Persons entitled to file initial financing statement or continuation statement
47-9709 Priority
Chapter 10 MISCELLANEOUS
47-10101 Provision for transition
Chapter 2A LEASES
Article 1 General Provisions
47-2A101 Short Title
47-2A102 Scope
47-2A103 Definitions and index of definitions
47-2A104 Leases subject to other law
47-2A105 Territorial application of chapter to goods covered by certificate of title
47-2A106 Limitation on power of parties to consumer lease to choose applicable law and judicial forum
47-2A107 Waiver or renunciation of claim or right after default
47-2A108 Unconscionability
47-2A109 Option to accelerate at will
Article 2 Formation and Construction of Lease Contract
47-2A201 Statute of frauds
47-2A202 Final written expression; parol or extrinsic evidence
47-2A203 Seals inoperative
47-2A204 Formation in general
47-2A205 Firm offers
47-2A206 Offer and acceptance in formation of lease contract
47-2A208 Modification, rescission and waiver
47-2A209 Lessee under finance lease as beneficiary of supply contract
47-2A210 Express warranties
47-2A211 Warranties against interference and against infringement; lessee's obligation against infringement
47-2A212 Implied warranty of merchantability
47-2A213 Implied warranty of fitness for particular purpose
47-2A214 Exclusion or modification of warranties
47-2A215 Cumulation and conflict of warranties express or implied
47-2A216 Third-party beneficiaries of express and implied warranties
47-2A217 Identification
47-2A218 Insurance and proceeds
47-2A219 Risk of loss
47-2A220 Effect of default on risk of loss
47-2A221 Casualty to identified goods
Article 3 Effect of Lease Contract
47-2A301 Enforceability of lease contract
47-2A302 Title to and possession of goods
47-2A303 Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights
47-2A304 Subsequent lease of goods by lessor
47-2A305 Sale or sublease of goods by lessee
47-2A306 Priority of certain liens arising by operation of law
47-2A307 Priority of liens arising by attachment or levy on, security interests in and other claims to goods
47-2A308 Special rights of creditors
47-2A309 Lessor's and lessee's rights when goods become fixtures
47-2A310 Lessor's and lessee's rights when goods become accessions
47-2A311 Priority subject to subordination
Article 4 Performance of Lease Contract Repudiated, Substituted and Excused
47-2A401 Insecurity; adequate assurance of performance
47-2A402 Anticipatory repudiation
47-2A403 Retraction of anticipatory repudiation
47-2A404 Substituted performance
47-2A405 Excused performance
47-2A406 Procedure on excused performance
47-2A407 Irrevocable promises; finance leases
Article 5 Default
47-2A501 Default; procedure
47-2A502 Notice after default
47-2A503 Modification or impairment of rights and remedies
47-2A504 Liquidation of damages
47-2A505 Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies
47-2A506 Statute of limitations
47-2A507 Proof of market rent; time and place
47-2A508 Lessee's remedies
47-2A509 Lessee's rights on improper delivery; rightful rejection
47-2A510 Installment lease contracts; rejection and default
47-2A511 Merchant lessee's duties as to rightfully rejected goods
47-2A512 Lessee's duties as to rightfully rejected goods
47-2A513 Cure by lessor of improper tender or delivery; replacement
47-2A514 Waiver of lessee's objections
47-2A515 Acceptance of goods
47-2A516 Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over
47-2A517 Revocation of acceptance of goods
47-2A518 Cover; substitute goods
47-2A519 Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods
47-2A520 Lessee's incidental and consequential damages
47-2A521 Lessee's right to specific performance or replevin
47-2A522 Lessee's right to goods on lessor's insolvency
47-2A523 Lessor's remedies
47-2A524 Lessor's right to identify goods to lease contract
47-2A525 Lessor's right to possession of goods
47-2A526 Lessor's stoppage of delivery in transit or otherwise
47-2A527 Lessor's rights to dispose of goods
47-2A528 Lessor's damages for nonacceptance, failure to pay, repudiation or other default
47-2A529 Lessor's action for the rent
47-2A530 Lessor's incidental damages
47-2A531 Standing to sue third parties for injury to goods
47-2A532 Lessor's rights to residual interest
Chapter 4A FUNDS TRANSFERS
Article 1 Subject Matter and Definitions
47-4A101 Short title
47-4A102 Subject matter
47-4A103 Payment order; definitions
47-4A104 Funds transfer; definitions
47-4A105 Other definitions
47-4A106 Time payment order is received
47-4A107 Federal reserve regulations and operating circulars
47-4A108 Exclusion of consumer transactions governed by federal law
Article 2 Issue and Acceptance of Payment Order
47-4A201 Security procedure
47-4A202 Authorized and verified payment orders
47-4A203 Unenforceability of certain verified payment orders
47-4A204 Refund of payment and duty of customer to report with respect to unauthorized payment order
47-4A205 Erroneous payment orders
47-4A206 Transmission of payment order through funds-transfer or other communication system
47-4A207 Misdescription of beneficiary
47-4A208 Misdescription of intermediary bank or beneficiary's bank
47-4A209 Acceptance of payment order
47-4A210 Rejection of payment order
47-4A211 Cancellation and amendment of payment order
47-4A212 Liability and duty of receiving bank regarding unaccepted payment order
Article 3 Execution of Sender's Payment Order by Receiving Bank
47-4A301 Execution and execution date
47-4A302 Obligations of receiving bank in execution of payment order
47-4A303 Erroneous execution of payment order
47-4A304 Duty of sender to report erroneously executed payment order
47-4A305 Liability for late or improper execution or failure to execute payment order
Article 4 Payment
47-4A401 Payment date
47-4A402 Obligation of sender to pay receiving bank
47-4A403 Payment by sender to receiving bank
47-4A404 Obligation of beneficiary's bank to pay and give notice to beneficiary
47-4A405 Payment by beneficiary's bank to beneficiary
47-4A406 Payment by originator to beneficiary; discharge of underlying obligation
Article 5 Miscellaneous Provisions
47-4A501 Variation by agreement and effect of funds-transfer system rule
47-4A502 Creditor process served on receiving bank; setoff by beneficiary's bank
47-4A503 Injunction or restraining order with respect to funds transfer
47-4A504 Order in which items and payment orders may be charged to account; order of withdrawals from account
47-4A505 Preclusion of objection to debit of customer's account
47-4A506 Rate of interest
47-4A507 Choice of law

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