Indiana § 26-1-9.1-312 Perfection by permissive filing; perfection only by control or
possession; temporary perfection without filing or transfer of
possession

Indiana Statutes

§ 26-1-9.1-312 — Perfection by permissive filing; perfection only by control or possession; temporary perfection without filing or transfer of possession

Indiana § 26-1-9.1-312

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-312 (Perfection by permissive filing; perfection only by control or possession; temporary perfection without filing or transfer of possession) 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 § 26-1-9.1-312 (2026).

Text

(a)A security interest in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, instruments, investment property, or negotiable documents may be perfected by filing.

(b)Except as otherwise provided in IC 26-1-9.1-315(c) and IC 26-1-9.1-315(d), for proceeds:

(1)a security interest in a deposit account may be perfected only by control under IC 26-1-9.1-314;

(2)except as otherwise provided in IC 26-1-9.1-308(d), a security interest in a letter-of-credit right may be perfected only by control under IC 26-1-9.1-314; and

(3)a security interest in money may be perfected only by the secured party's taking possession under IC 26-1-9.1-313.

(c)While goods are in the possession of a bailee that has issued a negotiable document covering the good

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(a) A security interest in chattel paper,
controllable accounts, controllable electronic records, controllable
payment intangibles, instruments, investment property, or negotiable
documents may be perfected by filing.
(b) Except as otherwise provided in IC 26-1-9.1-315(c) and IC 26-1-9.1-315(d), for proceeds:
(1) a security interest in a deposit account may be perfected only
by control under IC 26-1-9.1-314;
(2) except as otherwise provided in IC 26-1-9.1-308(d), a security
interest in a letter-of-credit right may be perfected only by control
under IC 26-1-9.1-314; and
(3) a security interest in money may be perfected only by the
secured party's taking possession under IC 26-1-9.1-313.
(c) While goods are in the possession of a bailee that has issued a
negotiable document covering the goods:
(1) a security interest in the goods may be perfected by perfecting
a security interest in the document; and
(2) a security interest perfected in the document has priority over
any security interest that becomes perfected in the goods by
another method during that time.
(d) While goods are in the possession of a bailee that has issued a
nonnegotiable document covering the goods, a security interest in the
goods may be perfected by:
(1) issuance of a document in the name of the secured party;
(2) the bailee's receipt of notification of the secured party's
interest; or
(3) filing as to the goods.
(e) A security interest in certificated securities, negotiable
documents, or instruments is perfected without filing or the taking of
possession or control for a period of twenty (20) days from the time it
attaches to the extent that it arises for new value given under a signed
security agreement.
(f) A perfected security interest in a negotiable document or goods
in possession of a bailee, other than one that has issued a negotiable
document for the goods, remains perfected for twenty (20) days without
filing if the secured party makes available to the debtor the goods or
documents representing the goods for the purpose of:
(1) ultimate sale or exchange; or
(2) loading, unloading, storing, shipping, transshipping,
manufacturing, processing, or otherwise dealing with them in a
manner preliminary to their sale or exchange.
(g) A perfected security interest in a certificated security or
instrument remains perfected for twenty (20) days without filing if the
secured party delivers the security certificate or instrument to the
debtor for the purpose of:
(1) ultimate sale or exchange; or
(2) presentation, collection, enforcement, renewal, or registration
of transfer.
(h) After the twenty (20) day period specified in subsection (e), (f),
or (g) expires, perfection depends upon compliance with IC 26-1-9.1.