Law governing perfection and priority of security interests.
400.9-301. Except as otherwise provided in sections 400.9-303 through400.9-306, the following rules determine the law governing perfection, theeffect of perfection or nonperfection, and the priority of a securityinterest in collateral:
(1) Except as otherwise provided in this section, while a debtor islocated in a jurisdiction, the local law of that jurisdiction governsperfection, the effect of perfection or nonperfection, and the priority ofa security interest in collateral;
(2) While collateral is located in a jurisdiction, the local law ofthat jurisdiction governs perfection, the effect of perfection ornonperfection, and the priority of a possessory security interest in thatcollateral;
(3) Except as otherwise provided in paragraph (4), while negotiabledocuments, goods, instruments, money, or tangible chattel paper is locatedin a jurisdiction, the local law of that jurisdiction governs:
(A) Perfection of a security interest in the goods by filing afixture filing;
(B) Perfection of a security interest in timber to be cut; and
(C) The effect of perfection or nonperfection and the priority of anonpossessory security interest in the collateral;
(4) The local law of the jurisdiction in which the wellhead orminehead is located governs perfection, the effect of perfection ornonperfection, and the priority of a security interest in as-extractedcollateral.
Law governing perfection and priority of security interests.
400.9-301. Except as otherwise provided in sections 400.9-303 through400.9-306, the following rules determine the law governing perfection, theeffect of perfection or nonperfection, and the priority of a securityinterest in collateral:
(1) Except as otherwise provided in this section, while a debtor islocated in a jurisdiction, the local law of that jurisdiction governsperfection, the effect of perfection or nonperfection, and the priority ofa security interest in collateral;
(2) While collateral is located in a jurisdiction, the local law ofthat jurisdiction governs perfection, the effect of perfection ornonperfection, and the priority of a possessory security interest in thatcollateral;
(3) Except as otherwise provided in paragraph (4), while negotiabledocuments, goods, instruments, money, or tangible chattel paper is locatedin a jurisdiction, the local law of that jurisdiction governs:
(A) Perfection of a security interest in the goods by filing afixture filing;
(B) Perfection of a security interest in timber to be cut; and
(C) The effect of perfection or nonperfection and the priority of anonpossessory security interest in the collateral;
(4) The local law of the jurisdiction in which the wellhead orminehead is located governs perfection, the effect of perfection ornonperfection, and the priority of a security interest in as-extractedcollateral.
Law governing perfection and priority of security interests.
400.9-301. Except as otherwise provided in sections 400.9-303 through400.9-306, the following rules determine the law governing perfection, theeffect of perfection or nonperfection, and the priority of a securityinterest in collateral:
(1) Except as otherwise provided in this section, while a debtor islocated in a jurisdiction, the local law of that jurisdiction governsperfection, the effect of perfection or nonperfection, and the priority ofa security interest in collateral;
(2) While collateral is located in a jurisdiction, the local law ofthat jurisdiction governs perfection, the effect of perfection ornonperfection, and the priority of a possessory security interest in thatcollateral;
(3) Except as otherwise provided in paragraph (4), while negotiabledocuments, goods, instruments, money, or tangible chattel paper is locatedin a jurisdiction, the local law of that jurisdiction governs:
(A) Perfection of a security interest in the goods by filing afixture filing;
(B) Perfection of a security interest in timber to be cut; and
(C) The effect of perfection or nonperfection and the priority of anonpossessory security interest in the collateral;
(4) The local law of the jurisdiction in which the wellhead orminehead is located governs perfection, the effect of perfection ornonperfection, and the priority of a security interest in as-extractedcollateral.
