This document outlines the scope of the Uniform Commercial Code (UCC) in Minnesota, specifically related to security interests in personal property or fixtures, agricultural liens, sales of accounts, chattel paper, payment intangibles, promissory notes, consignments, and certain security interests arising under other sections of the UCC. It applies to individuals and entities involved in transactions that create these types of security interests. However, there are exemptions to the application of this article, such as when a statute, regulation, or treaty of the United States preempts the UCC, when another statute of Minnesota expressly governs the creation, perfection, priority, or enforcement of a security interest, when a statute of another state or foreign country expressly governs the creation, perfection, priority, or enforcement of a security interest, when the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior, and when specific exemptions related to liens, assignments, transfers, or claims are applicable.

336.9-110 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-110 SECURITY INTERESTS ARISING UNDER ARTICLE 2 OR 2A. A security interest arising under section 336.2-401 , 336.2-505 , 336.2-711 (3), or 336.2A-508 (5) is subject to this article. However, until the debtor obtains possession of the goods: (1) the security interest is enforceable, even if section 336.9-203 (b)(3) has not been satisfied; (2) filing is not required to perfect the security interest; (3) the rights of the secured party after default by the debtor are governed by article 2 or 2A; and (4) the security interest has priority over a conflicting security interest created by the debtor.

This legal document, governed by the Uniform Commercial Code, establishes the general effectiveness of security agreements. It states that a security agreement is effective according to its terms between the parties involved, against purchasers of the collateral, and against creditors. The document also mentions that transactions subject to this article are subject to applicable consumer laws, regulations, and statutes that regulate rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit.

336.9-202 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-202 TITLE TO COLLATERAL IMMATERIAL. Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. History: 2000 c 399 art 1 s 12

This legal document, governed by the Minnesota Statutes under the Trade Regulations and Consumer Protection section, specifically falls under the Uniform Commercial Code. It addresses the attachment and enforceability of security interests, proceeds, supporting obligations, and formal requisites. The document outlines the conditions under which a security interest becomes enforceable against the debtor and third parties, including the requirement of value given, the debtor’s rights in the collateral, and specific conditions such as authentication of a security agreement or possession of collateral by the secured party.

336.9-204 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-204 AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES. (a) After-acquired collateral. Except as otherwise provided in subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral. (b) When after-acquired property clause not effective. A security interest does not attach under a term constituting an after-acquired property clause to: (1) consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten days after the secured party gives value; or (2) a commercial tort claim.

336.9-205 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-205 USE OR DISPOSITION OF COLLATERAL PERMISSIBLE. (a) When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because: (1) the debtor has the right or ability to: (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise, enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions; or (D) use, commingle, or dispose of proceeds; or (2) the secured party fails to require the debtor to account for proceeds or replace collateral.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically addresses security interests arising in the purchase or delivery of financial assets. It outlines the conditions under which a security interest in favor of a securities intermediary attaches to a person’s security entitlement when they buy a financial asset through the securities intermediary. Additionally, it explains that a security interest in favor of a person delivering a certificated security or other financial asset attaches to the security or financial asset if certain conditions are met.

This legal document, under the Minnesota Statutes, specifically under the Uniform Commercial Code, governs the rights and duties of a secured party who has possession or control of collateral. It establishes the duty of care for the secured party in the custody and preservation of the collateral. The document outlines the expenses, risks, duties, and rights of the secured party when in possession of the collateral. It also covers the duties and rights of a secured party who has possession or control of collateral.

This section of the Minnesota Statutes, under the Uniform Commercial Code, outlines the additional duties of a secured party who has control of collateral. It applies to cases where there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. The section specifies the duties of the secured party after receiving a demand from the debtor. These duties include releasing the bank from further obligations regarding a deposit account, paying the debtor the balance on deposit or transferring it to a deposit account in the debtor’s name, communicating the authoritative copy of electronic chattel paper to the debtor or its designated custodian, releasing the designated custodian from further obligations, sending an authenticated record to release the securities intermediary or commodity intermediary from complying with entitlement orders or directions, sending an authenticated release to persons with unfulfilled obligations regarding a letter of credit right, and giving control of an electronic document to the debtor or its designated custodian.