§ 554.9311 — Perfection of security interests in property subject to certain statutes, regulations, and treaties

Iowa § 554.9311

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

Text

regulations, and treaties.
1. Security interest subject to other law. Except as otherwise provided in subsection 4,
the filing of a financing statement is not necessary or effective to perfect a security interest
in property subject to:
a. a statute, regulation, or treaty of the United States whose requirements for a security
interest’s obtaining priority over the rights of a lien creditor with respect to the property
preempt section 554.9310, subsection 1;
b. any certificate-of-title statute, including as provided in chapter 321, covering
automobiles, trailers, mobile homes, boats, farm tractors, or the like, which provides for a
securityinteresttobeindicatedonacertificateoftitleasaconditionorresultofperfection; or
c. a statute of another jurisdiction which provides for a security interest to be indicated
on a certificate of title as a condition or result of the security interest’s obtaining priority over
the rights of a lien creditor with respect to the property.
2. Compliance with other law. Compliance with the requirements of a statute,
regulation, or treaty described in subsection 1 for obtaining priority over the rights of a lien
creditor is equivalent to the filing of a financing statement under this Article. Except as
otherwise provided in subsection 4 and sections 554.9313 and 554.9316, subsections 4 and 5,
for goods covered by a certificate of title, a security interest in property subject to a statute,
regulation, or treaty described in subsection 1 may be perfected only by compliance with
those requirements, and a security interest so perfected remains perfected notwithstanding
a change in the use or transfer of possession of the collateral.
3. Duration and renewal of perfection. Except as otherwise provided in subsection 4 and
section554.9316,subsections4and5,durationandrenewalofperfectionofasecurityinterest
perfected by compliance with the requirements prescribed by a statute, regulation, or treaty
described in subsection 1 are governed by the statute, regulation, or treaty. In other respects,
the security interest is subject to this Article.
4. Inapplicability to certain inventory. During any period in which collateral subject to a
statute specified in subsection 1, paragraph “b” is inventory held for sale or lease by a person
or leased by that person as lessor and that person is in the business of selling goods of that
kind, this section does not apply to a security interest in that collateral created by that person.