§ 554.9108 — Sufficiency of description

Iowa § 554.9108

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. Sufficiency of description. Except as otherwise provided in subsections 3, 4, and
5, a description of personal or real property is sufficient, whether or not it is specific, if it
reasonably identifies what is described.
2. Examples of reasonable identification. Except as otherwise provided in subsection 4,
a description of collateral reasonably identifies the collateral if it identifies the collateral by:
a. specific listing;
b. category;
c. exceptasotherwiseprovidedinsubsection5, atypeofcollateraldefinedinthischapter;
d. quantity;
e. computational or allocational formula or procedure; or
f. except as otherwise provided in subsection 3, any other method, if the identity of the
collateral is objectively determinable.
3. Supergeneric description not sufficient. 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.
4. Investment property. Except as otherwise provided in subsection 5, a description of a
security entitlement, securities account, or commodity account is sufficient if it describes:
a. the collateral by those terms or as investment property; or
b. the underlying financial asset or commodity contract.
5. When description by type insufficient. A description only by type of collateral defined
in this chapter is an insufficient description of:
a. a commercial tort claim; or
b. in a consumer transaction, consumer goods, a security entitlement, a securities
account, or a commodity account.