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2023 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
Chapter 1 - GENERAL PROVISIONS
Article 1 - Short Title, Construction, Application and Subject Matter of the Title
Article 2 - General Definitions and Principles of Interpretation
Article 3 - Territorial Applicability and General Rules
Article 1 - Short Title, General Construction and Subject Matter
Article 2 - Form, Formation and Readjustment of Contract
Article 3 - General Obligation and Construction of Contract
Article 4 - Title, Creditors and Good Faith Purchases
Article 5 - Performance
Article 6 - Breach, Repudiation and Excuse
Article 7 - Remedies
Article 1 - General Provisions
Article 2 - Formation and Construction of Lease Contract
Article 3 - Effect of Lease Contract
Article 4 - Performance of Lease Contract Repudiated, Substituted and Excused
Article 5 - Default
Article 1 - General Provisions and Definitions
Article 2 - Negotiation, Transfer and Indorsement
Article 3 - Enforcement of Instruments
Article 4 - Liability of Parties
Article 5 - Dishonor
Article 6 - Discharge and Payment
Article 1 - General Provisions and Definitions
Article 2 - Collection of Items; Depositary and Collecting Banks
Article 3 - Collection of Items; Payor Banks
Article 4 - Relationship Between Payor Bank and Its Customer
Article 5 - Collection of Documentary Drafts
Article 1 - Subject Matter and Definitions
Article 2 - Issue and Acceptance of Payment Order
Article 3 - Execution of Sender's Payment Order by Receiving Bank
Article 4 - Payment
Article 5 - Miscellaneous Provisions
Article 1 - General
Article 2 - Warehouse Receipts: Special Provisions
Article 3 - Bills of Lading: Special Provisions
Article 4 - Warehouse Receipts and Bills of Lading: General Obligations
Article 5 - Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Article 6 - Warehouse Receipts and Bills of Lading: Miscellaneous Provisions
Article 7 - Miscellaneous Provisions Chapter 8 - INVESTMENT SECURITIES
Article 1 - Short Title and General Matters
Article 2 - Issue and Issuer
Article 3 - Transfer of Certificated and Uncertificated Securities
Article 4 - Registration
Article 5 - Security Entitlements
Article 1 - General Provisions
Article 2 - Effectiveness of Security Agreement, Attachment of Security Interest and Rights of Parties to Security Agreement
Article 3 - Perfection and Priority
Article 4 - Rights of Third Parties
Article 5 - Filing
Article 6 - Default
Article 7 - 2001 Transition
Article 8 - 2014 Transition
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
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
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
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
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
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 - Relationship to electronic fund transfer act
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
- § 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
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 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
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; definition
- § 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; definition
- § 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 - 2001 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
Article 8 - 2014 Transition
- § 47-9801 - Savings clause
- § 47-9802 - Security interest perfected before effective date
- § 47-9803 - Security interest unperfected before effective date
- § 47-9804 - Effectiveness of action taken before effective date
- § 47-9805 - When initial financing statement suffices to continue effectiveness of financing statement
- § 47-9806 - Amendment of pre-effective date financing statement; definition
- § 47-9807 - Person entitled to file initial financing statement or continuation statement
- § 47-9808 - Priority
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