(a) Creation ofsecurity interest in accession. A security interest may be created in anaccession and continues in collateral that becomes an accession.
(b) Perfection ofsecurity interest. If a security interest is perfected when the collateralbecomes an accession, the security interest remains perfected in thecollateral.
(c) Priority ofsecurity interest. Except as otherwise provided in subsection (d) of thissection, the other provisions of this Part determine the priority of a securityinterest in an accession.
(d) Compliance withcertificate‑of‑title statute. A security interest in an accessionis subordinate to a security interest in the whole which is perfected bycompliance with the requirements of a certificate‑of‑title statuteunder G.S. 25‑9‑311(b).
(e) Removal ofaccession after default. After default, subject to Part 6 of this Article, asecured party may remove an accession from other goods if the security interestin the accession has priority over the claims of every person having aninterest in the whole.
(f) Reimbursementfollowing removal. A secured party that removes an accession from other goodsunder subsection (e) of this section shall promptly reimburse any holder of asecurity interest or other lien on, or owner of, the whole or of the othergoods, other than the debtor, for the cost of repair of any physical injury tothe whole or the other goods. The secured party need not reimburse the holderor owner for any diminution in value of the whole or the other goods caused bythe absence of the accession removed or by any necessity for replacing it. Aperson entitled to reimbursement may refuse permission to remove until thesecured party gives adequate assurance for the performance of the obligation toreimburse. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000‑169,s. 1.)
(a) Creation ofsecurity interest in accession. A security interest may be created in anaccession and continues in collateral that becomes an accession.
(b) Perfection ofsecurity interest. If a security interest is perfected when the collateralbecomes an accession, the security interest remains perfected in thecollateral.
(c) Priority ofsecurity interest. Except as otherwise provided in subsection (d) of thissection, the other provisions of this Part determine the priority of a securityinterest in an accession.
(d) Compliance withcertificate‑of‑title statute. A security interest in an accessionis subordinate to a security interest in the whole which is perfected bycompliance with the requirements of a certificate‑of‑title statuteunder G.S. 25‑9‑311(b).
(e) Removal ofaccession after default. After default, subject to Part 6 of this Article, asecured party may remove an accession from other goods if the security interestin the accession has priority over the claims of every person having aninterest in the whole.
(f) Reimbursementfollowing removal. A secured party that removes an accession from other goodsunder subsection (e) of this section shall promptly reimburse any holder of asecurity interest or other lien on, or owner of, the whole or of the othergoods, other than the debtor, for the cost of repair of any physical injury tothe whole or the other goods. The secured party need not reimburse the holderor owner for any diminution in value of the whole or the other goods caused bythe absence of the accession removed or by any necessity for replacing it. Aperson entitled to reimbursement may refuse permission to remove until thesecured party gives adequate assurance for the performance of the obligation toreimburse. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000‑169,s. 1.)
(a) Creation ofsecurity interest in accession. A security interest may be created in anaccession and continues in collateral that becomes an accession.
(b) Perfection ofsecurity interest. If a security interest is perfected when the collateralbecomes an accession, the security interest remains perfected in thecollateral.
(c) Priority ofsecurity interest. Except as otherwise provided in subsection (d) of thissection, the other provisions of this Part determine the priority of a securityinterest in an accession.
(d) Compliance withcertificate‑of‑title statute. A security interest in an accessionis subordinate to a security interest in the whole which is perfected bycompliance with the requirements of a certificate‑of‑title statuteunder G.S. 25‑9‑311(b).
(e) Removal ofaccession after default. After default, subject to Part 6 of this Article, asecured party may remove an accession from other goods if the security interestin the accession has priority over the claims of every person having aninterest in the whole.
(f) Reimbursementfollowing removal. A secured party that removes an accession from other goodsunder subsection (e) of this section shall promptly reimburse any holder of asecurity interest or other lien on, or owner of, the whole or of the othergoods, other than the debtor, for the cost of repair of any physical injury tothe whole or the other goods. The secured party need not reimburse the holderor owner for any diminution in value of the whole or the other goods caused bythe absence of the accession removed or by any necessity for replacing it. Aperson entitled to reimbursement may refuse permission to remove until thesecured party gives adequate assurance for the performance of the obligation toreimburse. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000‑169,s. 1.)
