Indiana § 26-1-9.1-306.1 Law governing perfection, effect of perfection or nonperfection, and
priority of security interests in chattel paper; chattel paper's jurisdiction

Indiana Statutes

§ 26-1-9.1-306.1 — Law governing perfection, effect of perfection or nonperfection, and priority of security interests in chattel paper; chattel paper's jurisdiction

Indiana § 26-1-9.1-306.1

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-306.1 (Law governing perfection, effect of perfection or nonperfection, and priority of security interests in chattel paper; chattel paper's jurisdiction) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-9.1-306.1 (2026).

Text

1.

(a)Except as provided in subsection

(d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper's jurisdiction.

(b)The following rules govern the chattel paper's jurisdiction under this section:

(1)If the authoritative electronic copy of the record evidencing chattel paper, or a record that is attached to or logically associated with the electronic copy and that is readily available for review, expressly provides that

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1. (a) Except as provided in subsection
(d), if chattel paper is evidenced only by an authoritative electronic
copy of the chattel paper or is evidenced by an authoritative electronic
copy and an authoritative tangible copy, the local law of the chattel
paper's jurisdiction governs perfection, the effect of perfection or
nonperfection, and the priority of a security interest in the chattel
paper, even if the transaction does not bear any relation to the chattel
paper's jurisdiction.
(b) The following rules govern the chattel paper's jurisdiction under
this section:
(1) If the authoritative electronic copy of the record evidencing
chattel paper, or a record that is attached to or logically associated
with the electronic copy and that is readily available for review,
expressly provides that a particular jurisdiction is the chattel
paper's jurisdiction for purposes of this section, this chapter, or IC 26-1, that jurisdiction is the chattel paper's jurisdiction.
(2) If subdivision (1) does not apply, and the rules of the system
in which the authoritative electronic copy is recorded are readily
available for review and expressly provide that a particular
jurisdiction is the chattel paper's jurisdiction for purposes of this
section, this chapter, or IC 26-1, that jurisdiction is the chattel
paper's jurisdiction.
(3) If subdivisions (1) and (2) do not apply, and the authoritative
electronic copy, or a record that is attached to or logically
associated with the electronic copy and that is readily available
for review, expressly provides that the chattel paper is governed
by the law of a particular jurisdiction, that jurisdiction is the
chattel paper's jurisdiction.
(4) If subdivisions (1) through (3) do not apply, and the rules of
the system in which the authoritative electronic copy is recorded
are readily available for review and expressly provide that the
chattel paper or the system is governed by the law of a particular
jurisdiction, that jurisdiction is the chattel paper's jurisdiction.
(5) If subdivisions (1) through (4) do not apply, the chattel paper's
jurisdiction is the jurisdiction in which the debtor is located.
(c) If an authoritative tangible copy of a record evidences chattel
paper and the chattel paper is not evidenced by an authoritative
electronic copy, while the authoritative tangible copy of the record
evidencing the chattel paper is located in a jurisdiction, the local law
of that jurisdiction governs:
(1) perfection of a security interest in the chattel paper by
possession under section 314.1 of this chapter; and
(2) the effect of perfection or nonperfection and the priority of a
security interest in the chattel paper.
(d) The local law of the jurisdiction in which the debtor is located
governs perfection of a security interest in chattel paper by filing.