This section of the Iowa Code, specifically 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, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate: 1.a buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and 2.

If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 554.9516, subsection 2, paragraph e, which is incorrect at the time the financing statement is filed: 1.the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and 2.

This Article does not preclude subordination by agreement by a person entitled to priority. 2000 Acts, ch 1149, 59, 187

1.Exercise of recoupment or setoff.Except as otherwise provided in subsection 3, a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account. 2.Recoupment or setoff not affected by security interest.Except as otherwise provided in subsection 3, the application of this Article to a security interest in a deposit account does not affect a right of recoupment or setoff of the secured party as to a deposit account maintained with the secured party.

Except as otherwise provided in section 554.9340, subsection 3, and unless the bank otherwise agrees in an authenticated record, a banks rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by: 1.the creation, attachment, or perfection of a security interest in the deposit account; 2.the banks knowledge of the security interest; or 3.the banks receipt of instructions from the secured party.

This Article does not require a bank to enter into an agreement of the kind described in section 554.9104, subsection 1, paragraph b, even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer. 2000 Acts, ch 1149, 62, 187

1.Other law governs alienability exceptions.Except as otherwise provided in subsection 2 and sections 554.9406, 554.9407, 554.9408, and 554.9409, whether a debtors rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this Article. 2.Agreement does not prevent transfer.An agreement between the debtor and secured party which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.

The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtors acts or omissions. 2000 Acts, ch 1149, 64, 185, 187

This legal document, governed by the Iowa Code under the Uniform Commercial Code, pertains to agreements between account debtors and assignors regarding the assertion of claims or defenses against an assignee. The document states that such agreements are enforceable by an assignee if certain conditions are met, including taking the assignment for value, in good faith, without notice of a claim or defense, and without notice of a defense or claim in recoupment.