This legal document is part of the Iowa Code and falls under the Uniform Commercial Code, specifically Article 9. It provides definitions for various terms used in commercial transactions. The document covers definitions related to goods, accounts, agricultural liens, fixtures, consignments, consumer goods, and more. It also includes definitions from other articles of the Uniform Commercial Code that are applicable to this Article. The document does not mention any specific penalties for non-compliance.

This section of the Iowa Code, specifically under the Uniform Commercial Code, governs the concept of purchase-money security interest and the application of payments in transactions other than consumer-goods transactions. It defines purchase-money collateral and purchase-money obligation, and outlines the conditions under which a security interest in goods or software qualifies as a purchase-money security interest. The section also addresses the application of payments in nonconsumer-goods transactions, providing guidelines for the order in which payments should be applied to obligations.

1.Requirements for control.A secured party has control of a deposit account if: a.the secured party is the bank with which the deposit account is maintained; b.the debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or c.the secured party becomes the banks customer with respect to the deposit account.

This legal document, found in the Iowa Code under the Commerce section and the Uniform Commercial Code, pertains to the control of investment property. It outlines the conditions under which a person has control of a certificated security, uncertificated security, or security entitlement. Additionally, it explains how a secured party can have control over a commodity contract, either by being the commodity intermediary or by agreement with the commodity customer and intermediary.

A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section 554.5114, subsection 3, or otherwise applicable law or practice. 2000 Acts, ch 1149, 7, 185, 187 Referred to in 554.9203, 554.9207, 554.9208, 554.9314, 554.9329, 554.

This legal document pertains to the sufficiency of description in commercial transactions governed by the Uniform Commercial Code in the state of Iowa. It establishes that a description of personal or real property is considered sufficient if it reasonably identifies what is described, unless otherwise provided in subsections 3, 4, and 5. The document provides examples of reasonable identification, such as specific listing, category, type of collateral defined in the chapter, quantity, computational or allocational formula or procedure, or any other method that objectively determines the identity of the collateral.

This Article of the Iowa Code, which falls under the Uniform Commercial Code, governs various transactions and security interests in personal property or fixtures. It applies to transactions such as contracts creating security interests, agricultural liens, sales of accounts and promissory notes, consignments, and specific security interests arising under certain sections of the Iowa Code. The Article applies to parties involved in these transactions and security interests. However, there are exemptions to its application, such as when preempted by a United States statute, when another Iowa statute expressly governs the security interest, when a statute of another state or foreign country expressly governs the security interest, or when the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior.

A security interest arising under section 554.2401, 554.2505, 554.2711, subsection 3, or section 554.13508, subsection 5, is subject to this Article. However, until the debtor obtains possession of the goods: 1.the security interest is enforceable, even if section 554.9203, subsection 2, paragraph c, 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 13; and 4.

This legal document pertains to security agreements and their general effectiveness. According to the document, a security agreement is effective according to its terms between the parties involved, against purchasers of the collateral, and against creditors. The document also states that transactions subject to this Article are subject to any applicable consumer laws that establish different rules for consumers. In case of conflict between this Article and a rule of law, statute, or regulation, the latter controls.

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. 2000 Acts, ch 1149, 12, 185, 187