§ 36-9-309 — Security interest perfected upon attachment.

The following security interests are perfected when they attach: (1) a purchase-money security interest in consumer goods, except as otherwise provided in Section 36-9-311(b) with respect to consumer goods that are subject to a statute or treaty described in Section 36-9-311(a); (2) an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles; (3) a sale of a payment intangible; (4) a sale of a promissory note; (5) a security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services; (6) a security interest arising under Section 36-2-401, 36-2-505, 36-2-711(3), or 36-2A-508(5), until the debtor obtains possession of the collateral; (7) a security interest of a collecting bank arising under Section 36-4-210; (8) a security interest of an issuer or nominated person arising under Section 36-5-118; (9) a security interest arising in the delivery of a financial asset under Section 36-9-206(c); (10) a security interest in investment property created by a broker or securities intermediary; (11) a security interest in a commodity contract or a commodity account created by a commodity intermediary; (12) an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and (13) a security interest created by an assignment of a beneficial interest in a decedent's estate.

Legislative History

HISTORY: 1962 Code SECTION 10.9-309; 1966 (54) 2716; 1988 Act No. 494, SECTION 5; 1991 Act No; 161, SECTION 2(J); 2001 Act No. 67, SECTION 12.