2010 Pennsylvania Code
Title 13 - COMMERCIAL CODE
Chapter 93 - Perfection and Priority
9301 - Law governing perfection and priority of security interests.

                                CHAPTER 93
                         PERFECTION AND PRIORITY

     Subchapter
        A.  Law Governing Perfection and Priority
        B.  Perfection
        C.  Priority
        D.  Rights of Bank

        Enactment.  Chapter 93 was added June 8, 2001, P.L.123,
     No.18, effective July 1, 2001.
        Prior Provisions.  Former Chapter 93, which related to rights
     of third parties; perfected and unperfected security interests;
     rules of priority, was added November 1, 1979, P.L.255, No.86,
     and repealed June 8, 2001, P.L.123, No.18, effective July 1,
     2001.
        Cross References.  Chapter 93 is referred to in sections
     9705, 9707 of this title.

                               SUBCHAPTER A
                  LAW GOVERNING PERFECTION AND PRIORITY

     Sec.
     9301.  Law governing perfection and priority of security
            interests.
     9302.  Law governing perfection and priority of agricultural
            liens.
     9303.  Law governing perfection and priority of security
            interests in goods covered by certificate of title.
     9304.  Law governing perfection and priority of security
            interests in deposit accounts.
     9305.  Law governing perfection and priority of security
            interests in investment property.
     9306.  Law governing perfection and priority of security
            interests in letter-of-credit rights.
     9307.  Location of debtor.

        Cross References.  Subchapter A is referred to in section
     1301 of this title.
     § 9301.  Law governing perfection and priority of security
                interests.
        (a)  General rule; location of debtor.--Except as otherwise
     provided in this section, while a debtor is located in a
     jurisdiction, the local law of that jurisdiction governs
     perfection, the effect of perfection or nonperfection and the
     priority of a security interest in collateral.
        (b)  Possessory security interests; location of collateral.--
     While collateral is located in a jurisdiction, the local law of
     that jurisdiction governs perfection, the effect of perfection
     or nonperfection and the priority of a possessory security
     interest in that collateral.
        (c)  Fixture filings, timber to be cut, priority of
     nonpossessory tangible personal property security interests;
     location of collateral.--Except as otherwise provided in
     subsection (d), while collateral is located in a jurisdiction,
     the local law of that jurisdiction governs:
            (1)  perfection of a security interest in goods by filing
        a fixture filing;
            (2)  perfection of a security interest in timber to be
        cut; and
            (3)  the effect of perfection or nonperfection and the
        priority of a nonpossessory security interest in tangible
        negotiable documents, goods, instruments, money or tangible
        chattel paper.
        (d)  As-extracted collateral; location of wellhead or
     minehead.--The local law of the jurisdiction in which the
     wellhead or minehead is located governs perfection, the effect
     of perfection or nonperfection and the priority of a security
     interest in as-extracted collateral.
        (e)  Other exceptions.--The rules of this section are subject
     to:
            (1)  Section 9303 (relating to law governing perfection
        and priority of security interests in goods covered by
        certificate of title).
            (2)  Section 9304 (relating to law governing perfection
        and priority of security interests in deposit accounts).
            (3)  Section 9305 (relating to law governing perfection
        and priority of security interests in investment property).
            (4)  Section 9306 (relating to law governing perfection
        and priority of security interests in letter-of-credit
        rights).
     (Apr. 16, 2008, P.L.57, No.13, eff. 60 days)

        2008 Amendment.  Act 13 amended subsec. (c)(3).
        Cross References.  Section 9301 is referred to in section
     9316 of this title.