Chapter 79A — Chapter 79A

ORS 79A.3250 UCC 9-325. Priority of security interests in transferred collateral. (1) Except as otherwise provided in subsection (2) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if

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ORS 79A.3260 UCC 9-326. Priority of security interests created by new debtor. (1) Subject to subsection (2) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of ORS 79A.3160 (9)(a) or 79A.5080 is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement

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ORS 79A.3263 UCC 9-326A. Priority of security interest in controllable account, controllable electronic record and controllable payment intangible. A security interest in a controllable account, controllable electronic record or controllable payment intangible held by a secured party having control of the account, electronic record or payment intangible has priority over a conflicting security interest held by a secured party that does not have control. [2025 c.33 §70]

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ORS 79A.3270 UCC 9-327. Priority of security interests in deposit account. The following rules govern priority among conflicting security interests in the same deposit account

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ORS 79A.3280 UCC 9-328. Priority of security interests in investment property. The following rules govern priority among conflicting security interests in the same investment property

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ORS 79A.3290 UCC 9-329. Priority of security interests in letter-of-credit right. The following rules govern priority among conflicting security interests in the same letter-of-credit right

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ORS 79A.3300 UCC 9-330. Priority of purchaser of chattel paper or instrument. (1) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a security interest if

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ORS 79A.3310 UCC 9-331. Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments and securities under other chapters; priority of interests in financial assets and security entitlements and protection against assertion of claim under ORS chapters 78 and 80. (1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, a protected purchaser of a security or a qualifying purchaser of a controllable account, controllable electronic record or controllable payment intangible. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in ORS chapters 73, 77 and 78 and ORS 80.1010 to 80.1070

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ORS 79A.3320 UCC 9-332. Transfer of money; transfer of funds from deposit account. (1) A transferee of tangible money takes the money free of a security interest if the transferee receives possession of the money without acting in collusion with the debtor in violating the rights of the secured party

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ORS 79A.3330 UCC 9-333. Priority of certain liens arising by operation of law. (1) As used in this section, “possessory lien” means an interest, other than a security interest or an agricultural lien

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ORS 79A.3340 UCC 9-334. Priority of security interests in fixtures and crops. (1) A security interest under this chapter may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this chapter in ordinary building materials incorporated into an improvement on land

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ORS 79A.3350 UCC 9-335. Accessions. (1) A security interest may be created in an accession and continues in collateral that becomes an accession

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ORS 79A.3360 UCC 9-336. Commingled goods. (1) As used in this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass

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ORS 79A.3370 UCC 9-337. Priority of security interests in goods covered by certificate of title. If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title or manufactured structure ownership document or records a manufactured structure in a county deed record and the certificate, document or record does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate, document or record

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ORS 79A.3380 UCC 9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. Except for information on the jurisdiction of organization for an organization that is not a registered organization, if a security interest or agricultural lien is perfected by a filed financing statement providing information described in ORS 79A.5160 (2)(e) which is incorrect at the time the financing statement is filed

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ORS 79A.3390 UCC 9-339. Priority subject to subordination. This chapter does not preclude subordination by agreement by a person entitled to priority. [Formerly 79.0339]

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ORS 79A.3400 UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account. (1) Except as otherwise provided in subsection (3) of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account

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ORS 79A.3410 UCC 9-341. Bank’s rights and duties with respect to deposit account. Except as otherwise provided in ORS 79A.3400 (3), and unless the bank otherwise agrees in a signed record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by

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ORS 79A.3420 UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement. This chapter does not require a bank to enter into an agreement of the kind described in ORS 79A.1040 (1)(b), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer. [Formerly 79.0342]

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ORS 79A.4010 UCC 9-401. Alienability of debtor’s rights. (1) Except as otherwise provided in subsection (2) of this section and ORS 79A.4060, 79A.4070, 79A.4080 and 79A.4090, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter

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ORS 79A.4020 UCC 9-402. Secured party not obligated on contract of debtor or in tort. The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor’s acts or omissions. [Formerly 79.0402]

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ORS 79A.4030 UCC 9-403. Agreement not to assert defenses against assignee. (1) As used in this section, “value” has the meaning provided in ORS 73.0303 (1)

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ORS 79A.4040 UCC 9-404. Rights acquired by assignee; claims and defenses against assignee. (1) Unless an account debtor has made an enforceable agreement not to assert defenses or claims and subject to subsections (2) to (5) of this section, the rights of an assignee are subject to

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ORS 79A.4050 UCC 9-405. Modification of assigned contract. (1) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to subsections (2) to (4) of this section

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ORS 79A.4060 UCC 9-406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective. (1) Subject to subsections (2) to (9) and (11) of this section, an account debtor on an account, chattel paper or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, signed by the assignor or the assignee, that the amount due or to become due has been assigned and that payment is to be made to the assignee. After receipt of the notification, the account debtor may discharge its obligation by paying the assignee and may not discharge the obligation by paying the assignor

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ORS 79A.4070 UCC 9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest. (1) Except as otherwise provided in subsection (2) of this section, a term in a lease agreement is ineffective to the extent that it

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ORS 79A.4080 UCC 9-408. Restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective. (1) Except as otherwise provided in subsection (2) of this section, a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license or franchise, and which term prohibits, restricts or requires the consent of the person obligated on the promissory note or the account debtor to, the assignment or transfer of, or creation, attachment or perfection of a security interest in, the promissory note, health-care-insurance receivable or general intangible, is ineffective to the extent that the term

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ORS 79A.4090 UCC 9-409. Restrictions on assignment of letter-of-credit rights ineffective. (1) A term in a letter of credit or a rule of law, statute, regulation, custom or practice applicable to the letter of credit which prohibits, restricts or requires the consent of an applicant, issuer or nominated person to a beneficiary’s assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom or practice

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ORS 79A.5010 UCC 9-501. Filing office. (1) Except as otherwise provided in subsection (2) of this section, if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is

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ORS 79A.5020 UCC 9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement. (1) Subject to subsection (2) of this section, a financing statement is sufficient only if it

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ORS 79A.5030 UCC 9-503. Name of debtor and secured party. (1) A financing statement sufficiently provides the name of the debtor

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ORS 79A.5040 UCC 9-504. Indication of collateral. A financing statement sufficiently indicates the collateral that it covers if the financing statement provides

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ORS 79A.5050 UCC 9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions. (1) A consignor, lessor or other bailor of goods, a licensor or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in ORS 79A.3110 (1), using the terms “consignor,” “consignee,” “lessor,” “lessee,” “bailor,” “bailee,” “licensor,” “licensee,” “owner,” “registered owner,” “buyer,” “seller” or words of similar import, instead of the terms “secured party” and “debtor.”

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ORS 79A.5060 UCC 9-506. Effect of errors or omissions. (1) A financing statement substantially satisfying the requirements of ORS 79A.5010 to 79A.5280 is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading

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ORS 79A.5070 UCC 9-507. Effect of certain events on effectiveness of financing statement. (1) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition

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ORS 79A.5080 UCC 9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement. (1) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral

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ORS 79A.5090 UCC 9-509. Persons entitled to file record. (1) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if

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ORS 79A.5100 UCC 9-510. Effectiveness of filed record. (1) A filed record is effective only to the extent that it was filed by a person that may file it under ORS 79A.5090

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ORS 79A.5110 UCC 9-511. Secured party of record. (1) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under ORS 79A.5140 (1), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement

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ORS 79A.5120 UCC 9-512. Amendment of financing statement. (1) Subject to ORS 79A.5090, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (5) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that

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ORS 79A.5130 UCC 9-513. Termination statement. (1) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and

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ORS 79A.5140 UCC 9-514. Assignment of powers of secured party of record. (1) Except as otherwise provided in subsection (3) of this section, an initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party

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ORS 79A.5150 UCC 9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement; renewal notice; rules. (1) Except as otherwise provided in subsections (2), (5), (6) and (7) of this section, a filed financing statement is effective for a period of five years after the date of filing

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ORS 79A.5160 UCC 9-516. What constitutes filing; effectiveness of filing. (1) Except as otherwise provided in subsection (2) of this section, communication of a record to and receipt by a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing

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ORS 79A.5170 UCC 9-517. Effect of indexing errors. The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. [Formerly 79.0517]

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ORS 79A.5180 UCC 9-518. Claim concerning inaccurate or wrongfully filed record. (1) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed

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ORS 79A.5190 UCC 9-519. Numbering, maintaining and indexing records; communicating information provided in records. (1) For each record filed in a filing office, the filing office shall

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ORS 79A.5200 UCC 9-520. Acceptance and refusal to accept record. (1) A filing office shall refuse to accept a record for filing for a reason set forth in ORS 79A.5160 (2) and may refuse to accept a record for filing only for a reason set forth in ORS 79A.5160 (2)

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ORS 79A.5210 UCC 9-521. Uniform form of written financing statement and amendment. A filing office that accepts written records may not refuse to accept a written initial financing statement, addendum or amendment in the form and format set forth in the final official text of the 2010 revisions to Article 9 of the Uniform Commercial Code promulgated by The American Law Institute and the Uniform Law Commission, except for a reason set forth in ORS 79A.5160 (2). [Formerly 79.0521]

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ORS 79A.5220 UCC 9-522. Maintenance and destruction of records. (1) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under ORS 79A.5150 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and by using the file number assigned to the initial financing statement to which the record relates

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