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Can you summarize IACO 554.9303?
UNIFORM COMMERCIAL CODE > Law governing perfection and priority of security interests in goods covered by a certificate of title.
Short Summary
This section of the Iowa Code, specifically under the Uniform Commercial Code, governs the perfection and priority of security interests in goods covered by a certificate of title. It applies to goods that are covered by a certificate of title, regardless of any other relationship between the jurisdiction issuing the certificate and the goods or debtor. Goods become covered by a certificate of title upon the submission of a valid application and payment of the applicable fee to the appropriate authority. The local law of the jurisdiction issuing the certificate of title governs the perfection, effect, and priority of a security interest in the goods covered by the certificate of title. This applies from the time the goods become covered by the certificate of title until they cease to be covered by it. The document references other sections of the Iowa Code related to motor vehicles and the Uniform Commercial Code.
Whom does it apply to?
Goods covered by a certificate of title
What does it govern?
Perfection and priority of security interests in goods covered by a certificate of title
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa