Title 62A, Title 62A UNIFORM COMMERCIAL CODE
14 chapters · 656 sections in this title.
RCW 62A.9A-303 Law governing perfection and priority of security interests in goods covered by a certificate of title.
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(a) Applicability of section. This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor.(b) When goods covered by certificate …
RCW 62A.9A-304 Law governing perfection and priority of security interests in deposit accounts.
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(a) Law of bank's jurisdiction governs. The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation …
RCW 62A.9A-305 Law governing perfection and priority of security interests in investment property.
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(a) Governing law: General rules. Except as otherwise provided in subsection (c) of this section, the following rules apply:(1) While a security certificate is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfect…
RCW 62A.9A-306 Law governing perfection and priority of security interests in letter-of-credit rights.
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(a) Governing law: Issuer's or nominated person's jurisdiction. Subject to subsection (c) of this section, the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security…
RCW 62A.9A-3061 Law governing perfection and priority of security interests in chattel paper.
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(a) Chattel paper evidenced by authoritative electronic copy. Except as provided in subsection (d) of this section, if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative…
RCW 62A.9A-3062 Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles.
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(a) Governing law: General rules. Except as provided in subsection (b) of this section, the local law of the controllable electronic record's jurisdiction specified in RCW 62A.12-107 (c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a …
RCW 62A.9A-307 Location of debtor.
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(a) "Place of business." In this section, "place of business" means a place where a debtor conducts its affairs.(b) Debtor's location: General rules. Except as otherwise provided in this section, the following rules determine a debtor's location:(1) A debtor who is an individual …
RCW 62A.9A-308 When security interest or agricultural lien is perfected; continuity of perfection.
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(a) Perfection of security interest.Except as otherwise provided in this section and RCW 62A.9A-309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in RCW 62A.9A-310 through 62A.9A-316 have been satisfied. A security inte…
RCW 62A.9A-309 Security interest perfected upon attachment.
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The following security interests are perfected when they attach:(1) A purchase-money security interest in consumer goods, except as otherwise provided in RCW 62A.9A-311(b) with respect to consumer goods that are subject to a statute or treaty described in RCW 62A.9A-311(a);(2) An…
RCW 62A.9A-310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
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(a) General rule: Perfection by filing. Except as otherwise provided in subsections (b) and (d) of this section and RCW 62A.9A-312(b), a financing statement must be filed to perfect all security interests and agricultural liens.(b) Exceptions: Filing not necessary. The filing of …
RCW 62A.9A-311 Perfection of security interests in property subject to certain statutes, regulations, and treaties.
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(a) Security interest subject to other law. Except as otherwise provided in subsection (d) of this section, the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to:(1) A statute, regulation, or treaty of the United S…
RCW 62A.9A-312 Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, negotiable documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.
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(a) Perfection by filing permitted. A security interest in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, instruments, investment property, or negotiable documents may be perfected by filing.(b) Control or possession of ce…
RCW 62A.9A-313 When possession by or delivery to secured party perfects security interest without filing.
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(a) Perfection by possession or delivery. Except as otherwise provided in subsection (b) of this section, a secured party may perfect a security interest in goods, instruments, negotiable tangible documents, or tangible money by taking possession of the collateral. A secured part…
RCW 62A.9A-314 Perfection by control.
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(a) Perfection by control. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights may be perfected by control of the…
RCW 62A.9A-3141 Perfection by possession and control of chattel paper.
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(a) Perfection by possession and control. A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electr…
RCW 62A.9A-315 Secured party's rights on disposition of collateral and in proceeds.
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(a) Disposition of collateral: Continuation of security interest or agricultural lien; proceeds. Except as otherwise provided in this Article and in RCW 62A.2-403(2):(1) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchang…
RCW 62A.9A-316 Effect of change in governing law.
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(a) General rule: Effect on perfection of change in governing law. A security interest perfected pursuant to the law of the jurisdiction designated in RCW 62A.9A-301(1), 62A.9A-305(c), 62A.9A-3061, or 62A.9A-3062 remains perfected until the earliest of:(1) The time perfection wou…
RCW 62A.9A-317 Interests that take priority over or take free of security interest or agricultural lien.
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(a) Conflicting security interests and rights of lien creditors. A security interest or agricultural lien is subordinate to the rights of:(1) A person entitled to priority under RCW 62A.9A-322; and(2) Except as otherwise provided in subsection (e) of this section, a person that b…
RCW 62A.9A-318 No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
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(a) Seller retains no interest. A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.(b) Deemed rights of debtor if buyer's security interest unperfected. For purposes of dete…
RCW 62A.9A-319 Rights and title of consignee with respect to creditors and purchasers.
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(a) Consignee has consignor's rights. Except as otherwise provided in subsection (b) of this section, for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee…
RCW 62A.9A-320 Buyer of goods.
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(a) Buyer in ordinary course of business. Except as otherwise provided in subsection (e) of this section, a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the…
RCW 62A.9A-321 Licensee of general intangible and lessee of goods in ordinary course of business.
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(a) "Licensee in ordinary course of business." In this section, "licensee in ordinary course of business" means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangib…
RCW 62A.9A-322 Priorities among conflicting security interests in and agricultural liens on same collateral.
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(a) General priority rules. Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules:(1) Conflicting perfected security interests and agricultural liens…
RCW 62A.9A-323 Future advances.
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(a) When priority based on time of advance. Except as otherwise provided in subsection (c) of this section, for purposes of determining the priority of a perfected security interest under RCW 62A.9A-322(a)(1), perfection of the security interest dates from the time an advance is …
RCW 62A.9A-324 Priority of purchase-money security interests.
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(a) General rule: Purchase-money priority. Except as otherwise provided in subsection (g) of this section, a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except as o…
RCW 62A.9A-325 Priority of security interests in transferred collateral.
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(a) Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b) 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:(1) The debtor acqui…
RCW 62A.9A-326 Priority of security interests created by new debtor.
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(a) Subordination of security interest created by new debtor. Subject to subsection (b) 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 wo…
RCW 62A.9A-3261 Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible.
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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 pa…
RCW 62A.9A-327 Priority of security interests in deposit account.
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The following rules govern priority among conflicting security interests in the same deposit account:(1) A security interest held by a secured party having control of the deposit account under RCW 62A.9A-104 has priority over a conflicting security interest held by a secured part…
RCW 62A.9A-328 Priority of security interests in investment property.
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The following rules govern priority among conflicting security interests in the same investment property:(1) A security interest held by a secured party having control of investment property under RCW 62A.9A-106 has priority over a security interest held by a secured party that d…
RCW 62A.9A-329 Priority of security interests in letter-of-credit right.
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The following rules govern priority among conflicting security interests in the same letter-of-credit right:(1) A security interest held by a secured party having control of the letter-of-credit right under RCW 62A.9A-107 has priority to the extent of its control over a conflicti…
RCW 62A.9A-330 Priority of purchaser of chattel paper or instrument.
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(a) Purchaser's priority: Security interest claimed merely as proceeds. 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:(1) In good faith and in the ordinary…
RCW 62A.9A-331 Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other articles; priority of interests in financial assets and security entitlements and protection against assertions of claim under Articles 8 and 12.
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(a) Rights under Articles 3, 7, 8, and 12 not limited. This Article 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 purc…
RCW 62A.9A-332 Transfer of money; transfer of funds from deposit account.
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(a) Transferee of tangible money. 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.(b) Transferee of funds from de…
RCW 62A.9A-333 Priority of certain liens arising by operation of law.
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(a) "Possessory lien." In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:(1) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary cour…
RCW 62A.9A-334 Priority of security interests in fixtures and crops.
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(a) Security interest in fixtures under this Article. A security interest under this Article may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this Article in ordinary building materials incorporated …
RCW 62A.9A-335 Accessions.
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(a) Creation of security interest in accession. A security interest may be created in an accession and continues in collateral that becomes an accession.(b) Perfection of security interest. If a security interest is perfected when the collateral becomes an accession, the security…
RCW 62A.9A-336 Commingled goods.
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(a) "Commingled goods." 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.(b) No security interest in commingled goods as such. A security interest does not exist in commin…
RCW 62A.9A-337 Priority of security interests in goods covered by certificate of title.
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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 that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security int…
RCW 62A.9A-338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
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If a security interest or agricultural lien is perfected by a filed financing statement providing information described in RCW 62A.9A-516(b)(5) which is incorrect at the time the financing statement is filed:(1) The security interest or agricultural lien is subordinate to a confl…
RCW 62A.9A-339 Priority subject to subordination.
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This Article does not preclude subordination by agreement by a person entitled to priority.[2000 c 250 s 9A-339.]
RCW 62A.9A-340 Effectiveness of right of recoupment or set-off against deposit account.
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(a) Exercise of recoupment or set-off. Except as otherwise provided in subsection (c) of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account.(…
RCW 62A.9A-341 Bank's rights and duties with respect to deposit account.
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Except as otherwise provided in RCW 62A.9A-340(c), 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:(1) The creation, attachment, or perfect…
RCW 62A.9A-342 Bank's right to refuse to enter into or disclose existence of control agreement.
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This Article does not require a bank to enter into an agreement of the kind described in RCW 62A.9A-104(a)(2), 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 u…
RCW 62A.9A-401 Alienability of debtor's rights.
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(a) Other law governs alienability; exceptions. Except as otherwise provided in subsection (b) of this section and RCW 62A.9A-406, 62A.9A-407, 62A.9A-408, and 62A.9A-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law ot…
RCW 62A.9A-402 Secured party not obligated on contract of debtor or in tort.
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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.[2000 c 250 s 9A-402.]
RCW 62A.9A-403 Agreement not to assert defenses against assignee.
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(a) "Value." In this section, "value" has the meaning provided in RCW 62A.3-303(a).(b) Agreement not to assert claim or defense. Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or def…
RCW 62A.9A-404 Rights acquired by assignee; claims and defenses against assignee.
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(a) Assignee's rights subject to terms, claims, and defenses; exceptions. Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e) of this section, the rights of an assignee are subject to:(1) All term…
RCW 62A.9A-405 Modification of assigned contract.
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(a) Effect of modification on assignee. 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 mo…
RCW 62A.9A-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.
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(a) Discharge of account debtor; effect of notification. Subject to subsections (b) through (l) 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 re…