§ 26-1-9.1-308 — When security interest or agricultural lien is perfected; continuity of perfection

Indiana § 26-1-9.1-308

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 9.1: Secured Transactions

Text

(a) Except as otherwise provided in this
section and IC 26-1-9.1-309, a security interest is perfected if it has
attached and all of the applicable requirements for perfection in IC 26-1-9.1-310 through IC 26-1-9.1-316 have been satisfied. A security
interest is perfected when it attaches if the applicable requirements are
satisfied before the security interest attaches.
(b) An agricultural lien is perfected if it has become effective and
all of the applicable requirements for perfection in IC 26-1-9.1-310
have been satisfied. An agricultural lien is perfected when it becomes
effective if the applicable requirements are satisfied before the
agricultural lien becomes effective.
(c) A security interest or agricultural lien is perfected continuously
if it is originally perfected by one method under IC 26-1-9.1 and is later
perfected by another method under IC 26-1-9.1, without an
intermediate period when it was unperfected.
(d) Perfection of a security interest in collateral also perfects a
security interest in a supporting obligation for the collateral.
(e) Perfection of a security interest in a right to payment or
performance also perfects a security interest in a security interest,
mortgage, or other lien on personal or real property securing the right.
(f) Perfection of a security interest in a securities account also
perfects a security interest in the security entitlements carried in the
securities account.
(g) Perfection of a security interest in a commodity account also
perfects a security interest in the commodity contracts carried in the
commodity account.

Legislative History

As added by P.L.57-2000, SEC.45.