§ 34.1-9-201 — General effectiveness of security agreement

(a) Except as otherwise provided in this title, a security
agreement is effective according to its terms between the
parties, against purchasers of the collateral, and against
creditors.
(b) A transaction subject to this article is subject to
any applicable rule of law which establishes a different rule
for consumers, to any other statute or regulation of this state
that regulates the rates, charges, agreements and practices for
loans, credit sales or other extensions of credit and to any
consumer-protection statute or regulation of this state.
(c) In case of conflict between this article and a rule of
law, statute or regulation described in subsection (b), the rule
of law, statute or regulation controls. Failure to comply with
a statute or regulation described in subsection (b) has only the
effect the statute or regulation specifies.
(d) This article does not:
(i) Validate any rate, charge, agreement or practice
that violates a rule of law, statute or regulation described in
subsection (b); or
(ii) Extend the application of the rule of law,
statute or regulation to a transaction not otherwise subject to
it.