Montana § 30-9A-314A Perfection By Possession And Control Of Chattel Paper

Montana Statutes

§ 30-9A-314A — Perfection By Possession And Control Of Chattel Paper

Montana·Title 30 TRADE AND COMMERCE·Ch. 9A UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS·Part 3 Perfection and Priority

30-9A-314A . Perfection by possession and control of chattel paper.

(1)A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper.

(2)A security interest is perfected under subsection (1) not earlier than the time the secured party takes possession and obtains control and remains perfected under subsection (1) only while the secured party retains possession and control.

(3)Section 30-9A-313 (3) and (6) through (9) applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.

Free access — add to your briefcase to read the full text and ask questions with AI

30-9A-314A . Perfection by possession and control of chattel paper. (1) A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper.
(2) A security interest is perfected under subsection (1) not earlier than the time the secured party takes possession and obtains control and remains perfected under subsection (1) only while the secured party retains possession and control.
(3) Section 30-9A-313 (3) and (6) through (9) applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.

Montana § 30-9A-314A (Perfection By Possession And Control Of Chattel Paper) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.