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 § 30-9A-314A

Title 30TRADE AND COMMERCE

Ch. 9AUNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 3Perfection and Priority

This text of Montana § 30-9A-314A (Perfection By Possession And Control Of Chattel Paper) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-9A-314A (2026).

Text

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.

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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.