Subpart 2. 
Perfection



 



§490:9-308  When security interest or
agricultural lien is perfected; continuity of perfection.  (a)  Except as
otherwise provided in this section and section 490:9-309, a security interest
is perfected if it has attached and all of the applicable requirements for
perfection in sections 490:9-310 through 490:9-316 have been satisfied.  A
security interest is perfected when it attaches if the applicable requirements
are satisfied before the security interest attaches.



(b)  An agricultural lien is perfected if it
has become effective and all of the applicable requirements for perfection in
section 490:9-310 have been satisfied.  An agricultural lien is perfected when
it becomes effective if the applicable requirements are satisfied before the
agricultural lien becomes effective.



(c)  A security interest or agricultural lien
is perfected continuously if it is originally perfected by one method under
this article and is later perfected by another method under this article,
without an intermediate period when it was unperfected.



(d)  Perfection of a security interest in
collateral also perfects a security interest in a supporting obligation for the
collateral.



(e)  Perfection of a security interest in a
right to payment or performance also perfects a security interest in a security
interest, mortgage, or other lien on personal or real property securing the
right.



(f)  Perfection of a security interest in a
securities account also perfects a security interest in the security
entitlements carried in the securities account.



(g)  Perfection of a security interest in a
commodity account also perfects a security interest in the commodity contracts
carried in the commodity account. [L 2000, c 241, pt of §1]