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Can you summarize MNST 336.9-336?
UNIFORM COMMERCIAL CODE > COMMINGLED GOODS.
Short Summary
This section of the Minnesota Statutes, under the Uniform Commercial Code, governs the concept of commingled goods. Commingled goods refer to goods that are physically combined with other goods in a way that their individual identity is lost. The section clarifies that a security interest does not exist in commingled goods themselves, but it may attach to the resulting product or mass when goods become commingled. If collateral becomes commingled goods, a security interest attaches to the product or mass. If a security interest in collateral is perfected before it becomes commingled goods, the security interest that attaches to the product or mass is also perfected. The priority of a security interest in the product or mass is determined by the other provisions of this part, with a perfected security interest having priority over an unperfected one. If multiple security interests attach to the product or mass, the priority is determined based on whether the security interest is perfected or unperfected, and if multiple security interests are perfected, they rank equally based on the value of the collateral at the time it became commingled goods.
Whom does it apply to?
Creditors and individuals involved in commercial transactions
What does it govern?
Commingled goods
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota