§ 4-9-108 — Sufficiency of description

(a) Except as otherwise provided in
subsections (c), (d), (e), and (f) of this section, a description of personal or real
property is sufficient, whether or not it is specific, if it reasonably identifies what is
described.

(b) Except as otherwise provided in subsection (d) of this section, a
description of collateral reasonably identifies the collateral if it identifies the
collateral by:

(1) Specific listing;

(2) Category, including a category determined by use of a numerical or other
code included in forms and formats adopted from time to time by the secretary of
state;

(3) Except as otherwise provided in subsection (e) of this section, a type of
collateral defined in this title;

(4) Quantity;

(5) Computational or allocational formula or procedure; or

(6) Except as otherwise provided in subsection (c) of this section, any other
method, if the identity of the collateral is objectively determinable.

(c) A description of collateral as all the debtor's assets or all the debtor's
personal property or using words of similar import does not reasonably identify the
collateral.

(d) Except as otherwise provided in subsection (e) of this section, a
description of a security entitlement, securities account, or commodity account is
sufficient if it describes:

(1) The collateral by those terms or as investment property; or

(2) The underlying financial asset or commodity contract.

(e) A description only by type of collateral defined in this title is an
insufficient description of:

(1) A commercial tort claim;

(2) In a consumer transaction, consumer goods, a security entitlement, a
securities account, or a commodity account; or

(3) A deposit account.

(f) Any description in the security agreement of personal property that
includes consumer goods is sufficient as to the consumer goods only if it
specifically identifies and itemizes such consumer goods.

Legislative History

Source: L. 2001: Entire article R&RE, p. 1330, � 1, effective July 1.