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2020 South Carolina Code of Laws
Title 36 - Commercial Code
Chapter 9 - Commercial Code - Secured Transactions
Editor's Note
Copyright (c) 2020 SOUTH CAROLINA SENATE. South Carolina Reporters' Comments contained herein may not be reproduced in whole or in part in any form or for inclusion in any material which is offered for sale without the express written permission of the Clerk of the South Carolina Senate.
Official Comments of the Uniform Commercial Code (c) 2020 The American Law Institute and the National Conference of Commissioners on Uniform Laws - Reproduced with permission.
PART 1 GENERAL PROVISIONS
- Section 36-9-101. Short title.
- Section 36-9-102. Definitions and index of definitions.
- Section 36-9-103. Purchase-money security interest; application of payments; burden of establishing.
- Section 36-9-104. Control of deposit account.
- Section 36-9-105. Control of electronic chattel paper
- Section 36-9-106. Control of investment property.
- Section 36-9-107. Control of letter-of-credit right.
- Section 36-9-108. Sufficiency of description.
- Section 36-9-109. Scope.
- Section 36-9-110. Security interests arising under Chapter 2.
- Section 36-9-111. UCC lien satisfaction.
- Section 36-9-201. General effectiveness of security agreement.
- Section 36-9-202. Title to collateral immaterial.
- Section 36-9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
- Section 36-9-204. After-acquired property; future advances.
- Section 36-9-205. Use or disposition of collateral permissible.
- Section 36-9-206. Security interest arising in purchase or delivery of financial asset.
- Section 36-9-207. Rights and duties of secured party having possession or control of collateral.
- Section 36-9-208. Additional duties of secured party having control of collateral.
- Section 36-9-209. Duties of secured party if account debtor has been notified of assignment.
- Section 36-9-210. Request for accounting; request regarding list of collateral or statement of account.
- Section 36-9-301. Law governing perfection and priority of security interests.
- Section 36-9-302. Law governing perfection and priority of agricultural liens.
- Section 36-9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title.
- Section 36-9-304. Law governing perfection and priority of security interests in deposit accounts.
- Section 36-9-305. Law governing perfection and priority of security interests in investment property.
- Section 36-9-306. Law governing perfection and priority of security interests in letter-of-credit rights.
- Section 36-9-307. Location of debtor
- Section 36-9-308. When security interest or agricultural lien is perfected; continuity of perfection.
- Section 36-9-309. Security interest perfected upon attachment.
- Section 36-9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
- Section 36-9-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties.
- Section 36-9-312. 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.
- Section 36-9-313. When possession by or delivery to secured party perfects security interest without filing.
- Section 36-9-314. Perfection by control.
- Section 36-9-315. Secured party ' s rights on disposition of collateral and in proceeds.
- Section 36-9-316. Continued perfection of security interest following change in governing law.
- Section 36-9-317. Interests that take priority over or take free of security interest or agricultural lien.
- Section 36-9-318. 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.
- Section 36-9-319. Rights and title of consignee with respect to creditors and purchasers.
- Section 36-9-320. Buyer of goods.
- Section 36-9-321. Licensee of general intangible and lessee of goods in ordinary course of business.
- Section 36-9-322. Priorities among conflicting security interests in and agricultural liens on same collateral.
- Section 36-9-323. Future advances.
- Section 36-9-324. Priority of purchase-money security interests.
- Section 36-9-325. Priority of security interests in transferred collateral.
- Section 36-9-326. Priority of security interests created by new debtor.
- Section 36-9-327. Priority of security interests in deposit account.
- Section 36-9-328. Priority of security interests in investment property.
- Section 36-9-329. Priority of security interests in letter-of-credit right.
- Section 36-9-330. Priority of purchaser of chattel paper or instrument.
- Section 36-9-331. Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Chapter 8.
- Section 36-9-332. Transfer of money; transfer of funds from deposit account.
- Section 36-9-333. Priority of certain liens arising by operation of law.
- Section 36-9-334. Priority of security interests in fixtures and crops.
- Section 36-9-335. Accessions.
- Section 36-9-336. Commingled goods.
- Section 36-9-337. Priority of security interests in goods covered by certificate of title.
- Section 36-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
- Section 36-9-339. Priority subject to subordination.
- Section 36-9-340. Effectiveness of right of recoupment or set-off against deposit account.
- Section 36-9-341. Bank ' s rights and duties with respect to deposit account.
- Section 36-9-342. Bank ' s right to refuse to enter into or disclose existence of control agreement.
- Section 36-9-401. Alienability of debtor ' s rights.
- Section 36-9-402. Secured party not obligated on contract of debtor or in tort.
- Section 36-9-403. Agreement not to assert defenses against assignee.
- Section 36-9-404. Rights acquired by assignee; claims and defenses against assignee.
- Section 36-9-405. Modification of assigned contract.
- Section 36-9-406. 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.
- Section 36-9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
- Section 36-9-408. Restrictions on assignment of promissory notes, health care insurance receivables, and certain general intangibles ineffective.
- Section 36-9-409. Restrictions on assignment of letter-of-credit rights ineffective.
- Section 36-9-410. Unlawful sale or disposal of personal property subject to security interest; exceptions; penalties.
- Section 36-9-501. Filing office.
- Section 36-9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
- Section 36-9-503. Name of debtor and secured party.
- Section 36-9-504. Indication of collateral.
- Section 36-9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.
- Section 36-9-506. Effect of errors or omissions.
- Section 36-9-507. Effect of certain events on effectiveness of financing statement.
- Section 36-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.
- Section 36-9-509. Persons entitled to file a record.
- Section 36-9-510. Effectiveness of filed record.
- Section 36-9-511. Secured party of record.
- Section 36-9-512. Amendment of financing statement.
- Section 36-9-513. Termination statement.
- Section 36-9-514. Assignment of powers of secured party of record.
- Section 36-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement.
- Section 36-9-516. What constitutes filing; effectiveness of filing.
- Section 36-9-517. Effect of indexing errors.
- Section 36-9-518. Claim concerning inaccurate or wrongfully filed record.
- Section 36-9-519. Numbering, maintaining, and indexing records; communicating information provided in records.
- Section 36-9-520. Acceptance and refusal to accept record.
- Section 36-9-521. Uniform form of written financing statement and amendment.
- Section 36-9-522. Maintenance and destruction of records.
- Section 36-9-523. Information from filing office; sale or license of records.
- Section 36-9-524. Delay by filing office.
- Section 36-9-525. Fees.
- Section 36-9-526. Filing-office rules.
- Section 36-9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
- Section 36-9-602. Waiver and variance of rights and duties.
- Section 36-9-603. Agreement on standards concerning rights and duties.
- Section 36-9-604. Procedure if security agreement covers real property or fixtures.
- Section 36-9-605. Unknown debtor or secondary obligor.
- Section 36-9-606. Time of default for agricultural lien.
- Section 36-9-607. Collection and enforcement by secured party.
- Section 36-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
- Section 36-9-609. Secured party ' s right to take possession after default.
- Section 36-9-610. Disposition of collateral after default.
- Section 36-9-611. Notification before disposition of collateral.
- Section 36-9-612. Timeliness of notification before disposition of collateral.
- Section 36-9-613. Contents and form of notification before disposition of collateral: general.
- Section 36-9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction.
- Section 36-9-615. Application of proceeds of disposition; liability for deficiency and right to surplus.
- Section 36-9-616. Explanation of calculation of surplus or deficiency.
- Section 36-9-617. Rights of transferee of collateral.
- Section 36-9-618. Rights and duties of certain secondary obligors.
- Section 36-9-619. Transfer of record or legal title.
- Section 36-9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
- Section 36-9-621. Notification of proposal to accept collateral.
- Section 36-9-622. Effect of acceptance of collateral.
- Section 36-9-623. Right to redeem collateral.
- Section 36-9-624. Waiver.
- Section 36-9-625. Remedies for secured party ' s failure to comply with chapter.
- Section 36-9-626. Action in which deficiency or surplus is in issue.
- Section 36-9-627. Determination of whether conduct was commercially reasonable.
- Section 36-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.
- Section 36-9-629. Disposition of collateral by public sale.
- Section 36-9-630. Contents of notice of sale.
- Section 36-9-631. Posting and mailing notice of sale.
- Section 36-9-632. Exception as to perishable property.
- Section 36-9-633. Postponement of public sale.
- Section 36-9-634. Procedure upon dissolution of order restraining or enjoining sale.
- Section 36-9-635. Disposition of proceeds of sale.
- Section 36-9-702. Savings clause.
- Section 36-9-703. Security interest perfected before effective date.
- Section 36-9-704. Security interest unperfected before effective date.
- Section 36-9-705. Effectiveness of action taken before effective date.
- Section 36-9-706. When initial financing statement suffices to continue effectiveness of financing statement.
- Section 36-9-707. Pre-effective-date financing statement.
- Section 36-9-708. Persons entitled to file initial financing statement or continuation statement.
- Section 36-9-709. Priority.
- Section 36-9-802. Application and effect.
- Section 36-9-803. Effect on previously perfected security interests.
- Section 36-9-804. Timing of perfection of preexisting security interests.
- Section 36-9-805. Effect of previous filing of financing statement.
- Section 36-9-806. Filing of initial financing statement; requirements.
- Section 36-9-807. Pre-effective-date financing statement defined; addition or deletion of collateral; effect of pre-effective-date financing statement.
- Section 36-9-808. Filing of initial financing statement or continuation statement.
- Section 36-9-809. Determination of priority.
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