This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the attachment and enforceability of security interests, proceeds, supporting obligations, and formal requisites. It outlines the conditions under which a security interest becomes enforceable against the debtor and third parties, including the requirement of value given and the debtor’s rights or power to transfer rights in the collateral. The document also specifies the formal requisites for attachment, such as the authentication of a security agreement or the possession of collateral by the secured party.

1.After-acquired collateral.Except as otherwise provided in subsection 2, a security agreement may create or provide for a security interest in after-acquired collateral. 2.When after-acquired property clause not effective.A security interest does not attach under a term constituting an after-acquired property clause to: a.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 b.

1.When security interest not invalid or fraudulent.A security interest is not invalid or fraudulent against creditors solely because: a.the debtor has the right or ability to: (1)use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (2)collect, compromise, enforce, or otherwise deal with collateral; (3)accept the return of collateral or make repossessions; or (4)use, commingle, or dispose of proceeds; or b.the secured party fails to require the debtor to account for proceeds or replace collateral.

This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the rights and duties of a secured party who has possession or control of collateral. It establishes that a secured party must exercise reasonable care in the custody and preservation of the collateral. The document outlines the expenses, risks, duties, and rights of a secured party in possession of collateral, including the ability to use or operate the collateral for preservation purposes or as agreed upon with the debtor.

This section of the Iowa Code, specifically under the Uniform Commercial Code, outlines the additional duties of a secured party who has control of collateral. It applies to secured parties who have control of collateral and are not committed to any outstanding secured obligation or providing further value. The section specifies various actions that the secured party must take upon receiving a demand from the debtor. These actions include releasing the bank from any further obligation to comply with instructions related to 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 any further obligation to comply with instructions, and enabling the debtor or its custodian to make copies or revisions to the authoritative copy.

1.Applicability of section.Except as otherwise provided in subsection 3, this section applies if: a.there is no outstanding secured obligation; and b.the secured party is not committed to make advances, incur obligations, or otherwise give value. 2.Duties of secured party after receiving demand from debtor.Within ten days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under section 554.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, pertains to requests for accounting, requests regarding a list of collateral, and requests regarding a statement of account. The document defines the terms related to these requests and outlines the duties of secured parties in responding to such requests. It specifies that a secured party must comply with a request within fourteen days by providing an accounting, approving or correcting a list of collateral, or approving or correcting a statement of account.

This legal document pertains to the perfection and priority of security interests in collateral. It establishes the rules governing the law of perfection, the effect of perfection or nonperfection, and the priority of security interests in collateral. The document specifies that the local law of the jurisdiction where the debtor is located determines perfection, effect, and priority, unless otherwise provided. It also states that the local law of the jurisdiction where the collateral is located governs the perfection, effect, and priority of a possessory security interest in that collateral.

While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. 2000 Acts, ch 1149, 22, 185, 187 Referred to in 554.1301, 579A.2, 579B.3

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.