Can you summarize IACO 554.9304?
This legal document governs the perfection and priority of security interests in deposit accounts. It specifies that the local law of a bank’s jurisdiction determines the perfection, effect, and priority of a security interest in a deposit account maintained with that bank. The document outlines rules to determine a bank’s jurisdiction, such as agreements between the bank and the debtor/customer, the location of the office serving the customer’s account, or the chief executive office of the bank.
Can you summarize IACO 554.9305?
This legal document governs the perfection and priority of security interests in investment property. It provides rules for determining the governing law, perfection, effect of perfection or nonperfection, and priority of security interests in different types of securities such as certificated securities, uncertificated securities, security entitlements, securities accounts, commodity contracts, and commodity accounts. The document also specifies the jurisdiction of a commodity intermediary based on agreements or the location of offices.
Can you summarize IACO 554.9307?
This legal document provides rules for determining the location of a debtor. The document defines ‘place of business’ as a place where a debtor conducts its affairs. It states that an individual debtor is located at their principal residence, while an organization debtor with only one place of business is located at that place of business. If an organization debtor has multiple places of business, it is located at its chief executive office.
Can you summarize IACO 554.9308?
This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the perfection of security interests and agricultural liens. It outlines the requirements for perfection and states that a security interest is perfected if it has attached and all applicable requirements have been satisfied. Similarly, an agricultural lien is perfected if it has become effective and all applicable requirements have been satisfied. The document also mentions continuous perfection, where a security interest or agricultural lien can be perfected by different methods without an intermediate period of being unperfected.
Can you summarize IACO 554.9309?
This legal document, governed by the Iowa Code under the Uniform Commercial Code, outlines the types of security interests that are considered perfected upon attachment. It applies to various scenarios such as purchase-money security interests in consumer goods, assignments of accounts or payment intangibles, sales of payment intangibles or promissory notes, security interests created by the assignment of health care insurance receivables, and more. The document also references specific sections of the Iowa Code that provide further details on the attachment and enforceability of security interests.
Can you summarize IACO 554.9310?
This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the filing requirements to perfect security interests and agricultural liens. In general, a financing statement must be filed to perfect these interests. However, there are exceptions where filing is not necessary, such as when the security interest is perfected under specific sections, in certain types of property, in goods in possession of a bailee, in certificated securities, documents, goods, or instruments, in collateral in the secured party’s possession, in a certificated security perfected by delivery, in controllable accounts, electronic records, payment intangibles, deposit accounts, chattel paper, electronic documents, investment property, or letter-of-credit rights perfected by control, in proceeds, or when otherwise specified in section 554.
Can you summarize IACO 554.9311?
This legal document pertains to the perfection of security interests in property that is subject to specific statutes, regulations, and treaties. It states that filing a financing statement is not necessary or effective to perfect a security interest in property subject to certain laws. Compliance with the requirements of the relevant statutes, regulations, or treaties is equivalent to filing a financing statement. For goods covered by a certificate of title, a security interest can only be perfected by complying with the requirements of the applicable law, and such perfection remains even if there is a change in the use or possession of the collateral.
Can you summarize IACO 554.9312?
This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the perfection of security interests in various types of collateral. It allows for the perfection of security interests in controllable accounts, controllable electronic records, controllable payment intangibles, chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money through filing. However, for certain types of collateral such as deposit accounts, letter-of-credit rights, tangible money, and electronic money, perfection can only be achieved through control or possession.
Can you summarize IACO 554.9313?
This section of the Iowa Code, which falls under the Uniform Commercial Code, governs the perfection of security interests in various types of collateral, including tangible negotiable documents, goods, instruments, tangible money, tangible chattel paper, and certificated securities. It outlines the methods by which a secured party can perfect their security interest, such as taking possession of the collateral or taking delivery of certificated securities. The section also specifies that perfection by possession or delivery occurs at the time the secured party takes possession or delivery and continues only while they retain possession.
Can you summarize IACO 554.9314?
This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the perfection of security interests through control. It specifies that security interests in various types of collateral, such as controllable accounts, electronic records, payment intangibles, deposit accounts, chattel paper, documents, money, investment property, or letter-of-credit rights, can be perfected by control under specific sections of the code. The document also outlines the time of perfection by control and the continuation of perfection for different types of collateral.