U.C.C. - ARTICLE 9 -§9-107.

U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER
..PART 1. SHORT TITLE, APPLICABILITY AND DEFINITIONS

§ 9-107. Definitions: "Purchase Money Security Interest".

A security interest is a "purchase money security interest" to the extent that it is

(a) taken or retained by the seller of the collateral to secure all or part of its price; or
(b) taken by a person who by making advances or incurring an obligation gives value to enable the debtor to acquire rights in or the use of collateral if such value is in fact so used.

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© Copyright 2005 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.

U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER ..PART 1. SHORT TITLE, APPLICABILITY AND DEFINITIONS

§ 9-107. Definitions: "Purchase Money Security Interest".

U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER
..PART 1. SHORT TITLE, APPLICABILITY AND DEFINITIONS