U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL
PAPER
..PART 4. FILING
§ 9-401. Place of Filing; Erroneous Filing; Removal of Collateral.
First Alternative Subsection (1)
(1) The proper place to file in order to perfect a security interest is as follows:
- (a) when the collateral is timber to be cut or is minerals or the like (including oil and gas) or accounts subject to subsection (5) of Section 9-103, or when the financing statement is filed as a fixture filing (Section 9-313) and the collateral is goods which are or are to become fixtures, then in the office where a mortgage on the real estate would be filed or recorded;
- (b) in all other cases, in the office of the [Secretary of State].
Second Alternative Subsection (1)
(1) The proper place to file in order to perfect a security interest is as follows:
- (a) when the collateral is equipment used in farming operations, or farm products, or accounts or general intangibles arising from or relating to the sale of farm products by a farmer, or consumer goods, then in the office of the _______ in the county of the debtor's residence or if the debtor is not a resident of this state then in the office of the _______ in the county where the goods are kept, and in addition when the collateral is crops growing or to be grown in the office of the _______ in the county where the land is located;
- (b) when the collateral is timber to be cut or is minerals or the like (including oil and gas) or accounts subject to subsection (5) of Section 9-103, or when the financing statement is filed as a fixture filing (Section 9-313) and the collateral is goods which are or are to become fixtures, then in the office where a mortgage on the real estate would be filed or recorded;
- (c) in all other cases, in the office of the [Secretary of State].
Third Alternative Subsection (1)
(1) The proper place to file in order to perfect a security interest is as follows:
- (a) when the collateral is equipment used in farming operations, or farm products, or accounts or general intangibles arising from or relating to the sale of farm products by a farmer, or consumer goods, then in the office of the _______ in the county of the debtor's residence or if the debtor is not a resident of this state then in the office of the _______ in the county where the goods are kept, and in addition when the collateral is crops growing or to be grown in the office of the _______ in the county where the land is located;
- (b) when the collateral is timber to be cut or is minerals or the like (including oil and gas) or accounts subject to subsection (5) of Section 9-103, or when the financing statement is filed as a fixture filing (Section 9-313) and the collateral is goods which are or are to become fixtures, then in the office where a mortgage on the real estate would be filed or recorded;
- (c) in all other cases, in the office of the [Secretary of State] and in addition, if the debtor has a place of business in only one county of this state, also in the office of _______ of such county, or, if the debtor has no place of business in this state, but resides in the state, also in the office of _______ of the county in which he resides.
- Note: One of the three alternatives should be selected as subsection (1).
(2) A filing which is made in good faith in an improper place or not in all of the places required by this section is nevertheless effective with regard to any collateral as to which the filing complied with the requirements of this Article and is also effective with regard to collateral covered by the financing statement against any person who has knowledge of the contents of such financing statement.
(3) A filing which is made in the proper place in this state continues effective even though the debtor's residence or place of business or the location of the collateral or its use, whichever controlled the original filing, is thereafter changed.
Alternative Subsection (3)
[ (3) A filing which is made in the proper county continues effective for four months after a change to another county of the debtor's residence or place of business or the location of the collateral, whichever controlled the original filing. It becomes ineffective thereafter unless a copy of the financing statement signed by the secured party is filed in the new county within said period. The security interest may also be perfected in the new county after the expiration of the four-month period; in such case perfection dates from the time of perfection in the new county. A change in the use of the collateral does not impair the effectiveness of the original filing.]
(4) The rules stated in Section 9-103 determine whether filing is necessary in this state.
(5) Notwithstanding the preceding subsections, and subject to subsection (3) of Section 9-302, the proper place to file in order to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the [Secretary of State]. This filing constitutes a fixture filing (Section 9-313) as to the collateral described therein which is or is to become fixtures.
(6) For the purposes of this section, the residence of an organization is its place of business if it has one or its chief executive office if it has more than one place of business.
Note: Subsection (6) should be used only if the state chooses the Second or Third Alternative Subsection (1).
As amended in 1962 and 1972.
See Appendix II for material relating to changes made in text in 1972.
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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.