TITLE 27. UNIFORM COMMERCIAL CODE
Chapter
490 Uniform Commercial Code
CHAPTER 490
UNIFORM COMMERCIAL CODE
ARTICLE 1. GENERAL PROVISIONS
Part 1. General Provisions
Section
490:1-101 Short title
490:1-102 Scope of article
490:1-103 Construction of chapter to promote its purposes and
policies; applicability of supplemental principles
of law
490:1-104 Construction against implied repeal
490:1-105 Severability
490:1-106 Use of singular and plural; gender
490:1-107 Section captions
490:1-108 Relation to Electronic Signatures in Global and
National Commerce Act
Part 2. General Definitions and Principles of
Interpretation
490:1-201 General definitions
490:1-202 Notice; knowledge
490:1-203 Lease distinguished from security interest
490:1-204 Value
490:1-205 Reasonable time; seasonableness
490:1-206 Presumptions
Part 3. Territorial Applicability and General Rules
490:1-301 Territorial applicability; parties' power to choose
applicable law
490:1-302 Variation by agreement
490:1-303 Course of performance, course of dealing, and usage
of trade
490:1-304 Obligation of good faith
490:1-305 Remedies to be liberally administered
490:1-306 Waiver or renunciation of claim or right after
breach
490:1-307 Prima facie evidence by third-party documents
490:1-308 Performance or acceptance under reservation of
rights
490:1-309 Option to accelerate at will
490:1-310 Subordinated obligations
ARTICLE 2. SALES
Part 1. Short Title, General Construction and
Subject Matter
490:2-101 Short title
490:2-102 Scope; certain security and other transactions
excluded from this article
490:2-103 Definitions and index of definitions
490:2-104 Definitions: "merchant"; "between merchants";
"financing agency"
490:2-105 Definitions: transferability; "goods"; "future"
goods; "lot"; "commercial unit"
490:2-106 Definitions: "contract"; "agreement"; "contract
for sale"; "sale"; "present sale"; "conforming" to
contract; "termination"; "cancellation"
490:2-107 Goods to be severed from realty: recording
Part 2. Form, Formation and Readjustment of Contract
490:2-201 Formal requirements; statute of frauds
490:2-202 Final written expression: parol or extrinsic
evidence
490:2-203 Seals inoperative
490:2-204 Formation in general
490:2-205 Firm offers
490:2-206 Offer and acceptance in formation of contract
490:2-207 Additional terms in acceptance or confirmation
490:2-208 Repealed
490:2-209 Modification, rescission and waiver
490:2-210 Delegation of performance; assignment of rights
Part 3. General Obligation and Construction of
Contract
490:2-301 General obligation of parties
490:2-302 Unconscionable contract or clause
490:2-303 Allocation or division of risks
490:2-304 Price payable in money, goods, realty or otherwise
490:2-305 Open price term
490:2-306 Output, requirements and exclusive dealings
490:2-307 Delivery in single lot or several lots
490:2-308 Absence of specified place for delivery
490:2-309 Absence of specific time provisions; notice of
termination
490:2-310 Open time for payment or running of credit;
authority to ship under reservation
490:2-311 Options and cooperation respecting performance
490:2-312 Warranty of title and against infringement; buyer's
obligation against infringement
490:2-313 Express warranties by affirmation, promise,
description, sample
490:2-313.1, 313.2 Repealed
490:2-314 Implied warranty: merchantability; usage of trade
490:2-315 Implied warranty: fitness for particular purpose
490:2-316 Exclusion or modification of warranties
490:2-317 Cumulation and conflict of warranties express or
implied
490:2-318 Third party beneficiaries of warranties express or
implied
490:2-319 F.O.B. and F.A.S. terms
490:2-320 C.I.F. and C. & F. terms
490:2-321 C.I.F. or C. & F.: "net landed weights"; "payment
on arrival"; warranty of condition on arrival
490:2-322 Delivery "ex-ship"
490:2-323 Form of bill of lading required in overseas
shipment; "overseas"
490:2-324 "No arrival, no sale" term
490:2-325 "Letter of credit" term; "confirmed credit"
490:2-326 Sale on approval and sale or return;
rights of creditors
490:2-327 Special incidents of sale on approval and
sale or return
490:2-328 Sale by auction
Part 4. Title, Creditors and Good Faith Purchasers
490:2-401 Passing of title; reservation for security; limited
application of this section
490:2-402 Rights of seller's creditors against sold goods
490:2-403 Power to transfer; good faith purchase of goods;
"entrusting"
Part 5. Performance
490:2-501 Insurable interest in goods; manner of
identification of goods
490:2-502 Buyer's right to goods on seller's repudiation,
failure to deliver, or insolvency
490:2-503 Manner of seller's tender of delivery
490:2-504 Shipment by seller
490:2-505 Seller's shipment under reservation
490:2-506 Rights of financing agency
490:2-507 Effect of seller's tender; delivery on condition
490:2-508 Cure by seller of improper tender or delivery;
replacement
490:2-509 Risk of loss in the absence of breach
490:2-510 Effect of breach on risk of loss
490:2-511 Tender of payment by buyer; payment by check
490:2-512 Payment by buyer before inspection
490:2-513 Buyer's right to inspection of goods
490:2-514 When documents deliverable on acceptance; when on
payment
490:2-515 Preserving evidence of goods in dispute
Part 6. Breach, Repudiation and Excuse
490:2-601 Buyer's rights on improper delivery
490:2-602 Manner and effect of rightful rejection
490:2-603 Merchant buyer's duties as to rightfully rejected
goods
490:2-604 Buyer's options as to salvage of rightfully
rejected goods
490:2-605 Waiver of buyer's objections by failure to
particularize
490:2-606 What constitutes acceptance of goods
490:2-607 Effect of acceptance; notice of breach; burden of
establishing breach after acceptance; notice of
claim or litigation to person answerable over
490:2-608 Revocation of acceptance in whole or in part
490:2-609 Right to adequate assurance of performance
490:2-610 Anticipatory repudiation
490:2-611 Retraction of anticipatory repudiation
490:2-612 "Installment contract"; breach
490:2-613 Casualty to identified goods
490:2-614 Substituted performance
490:2-615 Excuse by failure of presupposed conditions
490:2-616 Procedure on notice claiming excuse
Part 7. Remedies
490:2-701 Remedies for breach of collateral contracts not
impaired
490:2-702 Seller's remedies on discovery of buyer's
insolvency
490:2-703 Seller's remedies in general
490:2-704 Seller's right to identify goods to the contract
notwithstanding breach or to salvage unfinished
goods
490:2-705 Seller's stoppage of delivery in transit or
otherwise
490:2-706 Seller's resale including contract for resale
490:2-707 "Person in the position of a seller"
490:2-708 Seller's damages for nonacceptance or repudiation
490:2-709 Action for the price
490:2-710 Seller's incidental damages
490:2-711 Buyer's remedies in general; buyer's security
interest in rejected goods
490:2-712 "Cover"; buyer's procurement of substitute goods
490:2-713 Buyer's damages for nondelivery or repudiation
490:2-714 Buyer's damages for breach in regard to accepted
goods
490:2-715 Buyer's incidental and consequential damages
490:2-716 Buyer's right to specific performance or replevin
490:2-717 Deduction of damages from the price
490:2-718 Liquidation or limitation of damages; deposits
490:2-719 Contractual modification or limitation of remedy
490:2-720 Effect of "cancellation" or "rescission" on claims
for antecedent breach
490:2-721 Remedies for fraud
490:2-722 Who can sue third parties for injury to goods
490:2-723 Proof of market price; time and place
490:2-724 Admissibility of market quotations
490:2-725 Statute of limitations in contracts for sale
ARTICLE 2A. LEASES
Part 1. General Provisions
490:2A-101 Short title
490:2A-102 Scope
490:2A-103 Definitions and index of definitions
490:2A-104 Leases subject to other law
490:2A-105 Territorial application of article to goods covered
by certificate of title
490:2A-106 Limitation on power of parties to consumer lease to
choose applicable law and judicial forum
490:2A-107 Waiver or renunciation of claim or right after
default
490:2A-108 Unconscionability
490:2A-109 Option to accelerate at will
Part 2. Formation and Construction of Lease Contract
490:2A-201 Statute of frauds
490:2A-202 Final written expression: parol or extrinsic
evidence
490:2A-203 Seals inoperative
490:2A-204 Formation in general
490:2A-205 Firm offers
490:2A-206 Offer and acceptance in formation of lease contract
490:2A-207 Repealed
490:2A-208 Modification, rescission and waiver
490:2A-209 Lessee under finance lease as beneficiary of supply
contract
409:2A-210 Express warranties
490:2A-211 Warranties against interference and against
infringement; lessee's obligation against
infringement
490:2A-212 Implied warranty of merchantability
490:2A-213 Implied warranty of fitness for particular purpose
490:2A-214 Exclusion or modification of warranties
490:2A-215 Cumulation and conflict of warranties express or
implied
490:2A-216 Third-party beneficiaries of express and implied
warranties
490:2A-217 Identification
490:2A-218 Insurance and proceeds
490:2A-219 Risk of loss
490:2A-220 Effect of default on risk of loss
490:2A-221 Casualty to identified goods
Part 3. Effect of Lease Contract
490:2A-301 Enforceability of lease contract
490:2A-302 Title to and possession of goods
490:2A-303 Alienability of party's interest under lease
contract or of lessor's residual interest in goods;
delegation of performance; transfer of rights
490:2A-304 Subsequent lease of goods by lessor
490:2A-305 Sale or sublease of goods by lessee
490:2A-306 Priority of certain liens arising by operation of
law
490:2A-307 Priority of liens arising by attachment or levy on,
security interests in, and other claims to goods
490:2A-308 Special rights of creditors
490:2A-309 Lessor's and lessee's rights when goods become
fixtures
490:2A-310 Lessor's and lessee's rights when goods become
accessions
490:2A-311 Priority subject to subordination
Part 4. Performance of Lease Contract: Repudiated,
Substituted, and Excused
490:2A-401 Insecurity: adequate assurance of performance
490:2A-402 Anticipatory repudiation
490:2A-403 Retraction of anticipatory repudiation
490:2A-404 Substituted performance
490:2A-405 Excused performance
490:2A-406 Procedure on excused performance
490:2A-407 Irrevocable promises: finance leases
Part 5. Default
Subpart A. In General
490:2A-501 Default: procedure
490:2A-502 Notice after default
490:2A-503 Modification or impairment of rights and remedies
490:2A-504 Liquidation of damages
490:2A-505 Cancellation and termination and effect of
cancellation, termination, rescission, or fraud on
rights and remedies
490:2A-506 Statute of limitations
490:2A-507 Proof of market rent: time and place
Subpart B. Default by Lessor
490:2A-508 Lessee's remedies
490:2A-509 Lessee's rights on improper delivery; rightful
. rejection
490:2A-510 Installment lease contracts: rejection and default
490:2A-511 Merchant lessee's duties as to rightfully rejected
goods
490:2A-512 Lessee's duties as to rightfully rejected goods
490:2A-513 Cure by lessor of improper tender or delivery;
replacement
490:2A-514 Waiver of lessee's objections
490:2A-515 Acceptance of goods
490:2A-516 Effect of acceptance of goods; notice of default;
burden of establishing default after acceptance;
notice of claim or litigation to person answerable
over
490:2A-517 Revocation of acceptance of goods
490:2A-518 Cover; substitute goods
490:2A-519 Lessee's damages for nondelivery, repudiation,
default, and breach of warranty in regard to
accepted goods
490:2A-520 Lessee's incidental and consequential damages
490:2A-521 Lessee's right to specific performance or replevin
490:2A-522 Lessee's right to goods on lessor's insolvency
Subpart C. Default by Lessee
490:2A-523 Lessor's remedies
490:2A-524 Lessor's right to identify goods to lease contract
490:2A-525 Lessor's right to possession of goods
490:2A-526 Lessor's stoppage of delivery in transit or
otherwise
490:2A-527 Lessor's rights to dispose of goods
490:2A-528 Lessor's damages for nonacceptance, failure to pay,
repudiation, or other default
490:2A-529 Lessor's action for the rent
490:2A-530 Lessor's incidental damages
490:2A-531 Standing to sue third parties for injury to goods
490:2A-532 Lessor's rights to residual interest
ARTICLE 3. NEGOTIABLE INSTRUMENTS
Part 1. General Provisions and Definitions
490:3-101 Short title
490:3-102 Subject matter
490:3-103 Definitions
490:3-104 Negotiable instrument
490:3-105 Issue of instrument
490:3-106 Unconditional promise or order
490:3-107 Instrument payable in foreign money
490:3-108 Payable on demand or at definite time
490:3-109 Payable to bearer or to order
490:3-110 Identification of person to whom instrument is
payable
490:3-111 Place of payment
490:3-112 Interest
490:3-113 Date of instrument
490:3-114 Contradictory terms of instrument
490:3-115 Incomplete instrument
490:3-116 Joint and several liability; contribution
490:3-117 Other agreements affecting instrument
490:3-118 Statute of limitations
490:3-119 Notice of right to defend action
Part 2. Negotiation, Transfer, and Indorsement
490:3-201 Negotiation
490:3-202 Negotiation subject to rescission
490:3-203 Transfer of instrument; rights acquired by transfer
490:3-204 Indorsement
490:3-205 Special indorsement; blank indorsement; anomalous
indorsement
490:3-206 Restrictive indorsement
490:3-207 Reacquisition
Part 3. Enforcement of Instruments
490:3-301 Person entitled to enforce instrument
490:3-302 Holder in due course
490:3-303 Value and consideration
490:3-304 Overdue instrument
490:3-305 Defenses and claims in recoupment
490:3-306 Claims to an instrument
490:3-307 Notice of breach of fiduciary duty
490:3-308 Proof of signatures and status as holder in due
course
490:3-309 Enforcement of lost, destroyed, or stolen
instrument
490:3-310 Effect of instrument on obligation for which taken
490:3-311 Accord and satisfaction by use of instrument
490:3-312 Lost, destroyed, or stolen cashier's check,
teller's check, or certified check
Part 4. Liability of Parties
490:3-401 Signature
490:3-402 Signature by representative
490:3-403 Unauthorized signature
490:3-404 Impostors; fictitious payees
490:3-405 Employer responsibility for fraudulent indorsement
by employee
490:3-406 Negligence contributing to forged signature or
alteration of instrument
490:3-407 Alteration
490:3-408 Drawee not liable on unaccepted draft
490:3-409 Acceptance of draft; certified check
490:3-410 Acceptance varying draft
490:3-411 Refusal to pay cashier's checks, teller's checks,
and certified checks
490:3-412 Obligation of issuer of note or cashier's check
490:3-413 Obligation of acceptor
490:3-414 Obligation of drawer
490:3-415 Obligation of indorser
490:3-416 Transfer warranties
490:3-417 Presentment warranties
490:3-418 Payment or acceptance by mistake
490:3-419 Instruments signed for accommodation
490:3-420 Conversion of instrument
Part 5. Dishonor
490:3-501 Presentment
490:3-502 Dishonor
490:3-503 Notice of dishonor
490:3-504 Excused presentment and notice of dishonor
490:3-505 Evidence of dishonor
490:3-506 Dishonored check; action for treble damages;
procedures
490:3-506.5 Charges for dishonored checks
Part 6. Discharge and Payment
490:3-601 Discharge and effect of discharge
490:3-602 Payment
490:3-603 Tender of payment
490:3-604 Discharge by cancellation or renunciation
490:3-605 Discharge of indorsers and accommodation parties
ARTICLE 4. BANK DEPOSITS AND COLLECTIONS
Part 1. General Provisions and Definitions
490:4-101 Short title
490:4-102 Applicability
490:4-103 Variation by agreement; measure of damages; action
constituting ordinary care
490:4-104 Definitions and index of definitions
490:4-105 "Bank"; "depositary bank"; "payor bank";
"intermediary bank"; "collecting bank"; "presenting
bank"
490:4-106 Payable through or payable at bank; collecting bank
490:4-107 Separate office of a bank
490:4-108 Time of receipt of items
490:4-109 Delays
490:4-110 Electronic presentment
490:4-111 Statute of limitations
Part 2. Collection of Items: Depositary and
Collecting Banks
490:4-201 Status of collecting bank as agent and provisional
status of credits; applicability of article; item
indorsed "pay any bank"
490:4-202 Responsibility for collection or return; when
action timely
490:4-203 Effect of instructions
490:4-204 Methods of sending and presenting; sending directly
to payor bank
490:4-205 Depositary bank holder of unindorsed item
490:4-206 Transfer between banks
490:4-207 Transfer warranties
490:4-208 Presentment warranties
490:4-209 Encoding and retention warranties
490:4-210 Security interest of collecting bank in items,
accompanying documents and proceeds
490:4-211 When bank gives value for purposes of holder in due
course
490:4-212 Presentment by notice of item not payable by,
through, or at a bank; liability of drawer or
indorser
490:4-213 Medium and time of settlement by bank
490:4-214 Right of charge back or refund; liability of
collecting bank; return of item
490:4-215 Final payment of item by payor bank; when
provisional debits and credits become final; when
certain credits become available for withdrawal
490:4-216 Insolvency and preference
Part 3. Collection of Items; Payor Banks
490:4-301 Deferred posting; recovery of payment by return of
items; time of dishonor; return of items by payor
bank
490:4-302 Payor bank's responsibility for late return of item
490:4-303 When items subject to notice, stop-payment order,
legal process, or setoff; order in which items may
be charged or certified
Part 4. Relationship Between Payor Bank and its
Customer
490:4-401 When bank may charge customer's account
490:4-402 Bank's liability to customer for wrongful dishonor;
time of determining insufficiency of account
490:4-403 Customer's right to stop payment; burden of proof
of loss
490:4-404 Bank not obligated to pay check more than six
months old
490:4-405 Death or incompetence of customer
490:4-406 Customer's duty to discover and report unauthorized
signature or alteration
490:4-407 Payor bank's right to subrogation on improper
payment
Part 5. Collection of Documentary Drafts
490:4-501 Handling of documentary drafts; duty to send for
presentment and to notify customer of dishonor
490:4-502 Presentment of "on arrival" drafts
490:4-503 Responsibility of presenting bank for documents and
goods; report of reasons for dishonor; referee in
case of need
490:4-504 Privilege of presenting bank to deal with goods;
security interest for expenses
ARTICLE 4A. FUNDS TRANSFERS
Part 1. Subject Matter and Definitions
490:4A-101 Short title
490:4A-102 Subject matter
490:4A-103 Payment order-definitions
490:4A-104 Funds transfer-definitions
490:4A-105 Other definitions
490:4A-106 Time payment order is received
490:4A-107 Federal reserve regulations and operating circulars
490:4A-108 Relationship to Electronic Fund Transfer Act
Part 2. Issue and Acceptance of Payment Order
490:4A-201 Security procedure
490:4A-202 Authorized and verified payment orders
490:4A-203 Unenforceability of certain verified payment orders
490:4A-204 Refund of payment and duty of customer to report
with respect to unauthorized payment order
490:4A-205 Erroneous payment orders
490:4A-206 Transmission of payment order through
funds-transfer or other communication system
490:4A-207 Misdescription of beneficiary
490:4A-208 Misdescription of intermediary bank or
beneficiary's bank
490:4A-209 Acceptance of payment order
490:4A-210 Rejection of payment order
490:4A-211 Cancellation and amendment of payment order
490:4A-212 Liability and duty of receiving bank regarding
unaccepted payment order
Part 3. Execution of Sender's Payment Order by
Receiving Bank
490:4A-301 Execution and execution date
490:4A-302 Obligations of receiving bank in execution of
payment order
490:4A-303 Erroneous execution of payment order
490:4A-304 Duty of sender to report erroneously executed
payment order
490:4A-305 Liability for late or improper execution or failure
to execute payment order
Part 4. Payment
490:4A-401 Payment date
490:4A-402 Obligation of sender to pay receiving bank
490:4A-403 Payment by sender to receiving bank
490:4A-404 Obligation of beneficiary's bank to pay and give
notice to beneficiary
490:4A-405 Payment by beneficiary's bank to beneficiary
490:4A-406 Payment by originator to beneficiary; discharge of
underlying obligation
Part 5. Miscellaneous Provisions
490:4A-501 Variation by agreement and effect of funds-transfer
system rule
490:4A-502 Creditor process served on receiving bank; setoff
by beneficiary's bank
490:4A-503 Injunction or restraining order with respect to
funds transfer
490:4A-504 Order in which items and payment orders may be
charged to account; order of withdrawals from
account
490:4A-505 Preclusion of objection to debit of customer's
account
490:4A-506 Rate of interest
490:4A-507 Choice of law
ARTICLE 5. LETTERS OF CREDIT
490:5-101 Short title
490:5-102 Definitions
490:5-103 Scope
490:5-104 Formal requirements
490:5-105 Consideration
490:5-106 Issuance, amendment, cancellation, and duration
490:5-107 Confirmer, nominated person, and advisor
490:5-108 Issuer's rights and obligations
490:5-109 Fraud and forgery
490:5-110 Warranties
490:5-111 Remedies
490:5-112 Transfer of letter of credit
490:5-113 Transfer by operation of law
490:5-114 Assignment of proceeds
490:5-115 Statute of limitations
490:5-116 Choice of law and forum
490:5-117 Subrogation of issuer, applicant, and
nominated person
490:5-118 Security interest of issuer or nominated
person
ARTICLE 6. BULK SALES--REPEALED
490:6-101 to 110 Repealed
ARTICLE 7. DOCUMENTS OF TITLE
Part 1. General
490:7-101 Short title
490:7-102 Definitions and index of definitions
490:7-103 Relation of article to treaty or statute
490:7-104 Negotiable and nonnegotiable document of title
490:7-105 Reissuance in alternative medium
490:7-106 Control of electronic document of title
Part 2. Warehouse Receipts: Special Provisions
490:7-201 Person that may issue a warehouse receipt; storage
under bond
490:7-202 Form of warehouse receipt; effect of omission
490:7-203 Liability for nonreceipt or misdescription
490:7-204 Duty of care; contractual limitation of warehouse's
liability
490:7-205 Title under warehouse receipt defeated in certain
cases
490:7-206 Termination of storage at warehouse's option
490:7-207 Goods must be kept separate; fungible goods
490:7-208 Altered warehouse receipts
490:7-209 Lien of warehouse
490:7-210 Enforcement of warehouse's lien
Part 3. Bills of Lading: Special Provisions
490:7-301 Liability for nonreceipt or misdescription; "said to
contain"; "shipper's weight, load, and count";
improper handling
490:7-302 Through bills of lading and similar documents of
title
490:7-303 Diversion; reconsignment; change of instructions
490:7-304 Tangible bills of lading in a set
490:7-305 Destination bills
490:7-306 Altered bills of lading
490:7-307 Lien of carrier
490:7-308 Enforcement of carrier's lien
490:7-309 Duty of care; contractual limitation of carrier's
liability
Part 4. Warehouse Receipts and Bills of Lading:
General Obligations
490:7-401 Irregularities in issue of receipt or bill or
conduct of issuer
490:7-402 Duplicate document of title; overissue
490:7-403 Obligation of bailee to deliver; excuse
490:7-404 No liability for good-faith delivery pursuant to
document of title
Part 5. Warehouse Receipts and Bills of Lading:
Negotiation and Transfer
490-7:501 Form of negotiation and requirements of due
negotiation
490:7-502 Rights acquired by due negotiation
490:7-503 Document of title to goods defeated in certain cases
490:7-504 Rights acquired in absence of due negotiation;
effect of diversion; stoppage of delivery
490:7-505 Indorser not guarantor for other parties
490:7-506 Delivery without indorsement: right to compel
indorsement
490:7-507 Warranties on negotiation or delivery of document of
title
490:7-508 Warranties of collecting bank as to documents of
title
490:7-509 Adequate compliance with commercial contract
Part 6. Warehouse Receipts and Bills of Lading:
Miscellaneous Provisions
490:7-601 Lost, stolen, or destroyed documents of title
490:7-602 Judicial process against goods covered by negotiable
document of title
490:7-603 Conflicting claims; interpleader
Part 7. Miscellaneous Provisions
490:7-701 Applicability
490:7-702 Savings clause
ARTICLE 8. INVESTMENT SECURITIES
Part 1. Short Title and General Matters
490:8-101 Short title
490:8-102 Definitions
490:8-103 Rules for determining whether certain obligations
and interests are securities or financial assets
490:8-104 Acquisition of security or financial asset or
interest therein
490:8-105 Notice of adverse claim
490:8-106 Control
490:8-107 Whether indorsement, instruction, or entitlement
order is effective
490:8-108 Warranties in direct holding
490:8-109 Warranties in indirect holding
490:8-110 Applicability; choice of law
490:8-111 Clearing corporation rules
490:8-112 Creditor's legal process
490:8-113 Statute of frauds inapplicable
490:8-114 Evidentiary rules concerning certificated securities
490:8-115 Securities intermediary and others not liable to
adverse claimant
490:8-116 Securities intermediary as purchaser for value
Part 2. Issue and Issuer
490:8-201 Issuer
490:8-202 Issuer's responsibility and defenses; notice of
defect or defense
490:8-203 Staleness as notice of defect or defense
490:8-204 Effect of issuer's restriction on transfer
490:8-205 Effect of unauthorized signature on security
certificate
490:8-206 Completion or alteration of security certificate
490:8-207 Rights and duties of issuer with respect to
registered owners
490:8-208 Effect of signature of authenticating trustee,
registrar, or transfer agent
490:8-209 Issuer's lien
490:8-210 Overissue
Part 3. Transfer of Certificated and Uncertificated
Securities
490:8-301 Delivery
490:8-302 Rights of purchaser
490:8-303 Protected purchaser
490:8-304 Indorsement
490:8-305 Instruction
490:8-306 Effect of guaranteeing signature, indorsement, or
instruction
490:8-307 Purchaser's right to requisites for registration of
transfer
Part 4. Registration
490:8-401 Duty of issuer to register transfer
490:8-402 Assurance that indorsement or instruction is
effective
490:8-403 Demand that issuer not register transfer
490:8-404 Wrongful registration
490:8-405 Replacement of lost, destroyed, or wrongfully taken
security certificate
490:8-406 Obligation to notify issuer of lost, destroyed, or
wrongfully taken security certificate
490:8-407 Authenticating trustee, transfer agent, and registrar
Part 5. Security Entitlements
490:8-501 Securities account; acquisition of security
entitlement from securities intermediary
490:8-502 Assertion of adverse claim against entitlement
holder
490:8-503 Property interest of entitlement holder in financial
asset held by securities intermediary
490:8-504 Duty of securities intermediary to maintain
financial asset
490:8-505 Duty of securities intermediary with respect to
payments and distributions
490:8-506 Duty of securities intermediary to exercise rights
as directed by entitlement holder
490:8-507 Duty of securities intermediary to comply with
entitlement order
490:8-508 Duty of securities intermediary to change
entitlement holder's position to other form of
security holding
490:8-509 Specification of duties of securities intermediary
by other statute or regulation; manner of
performance of duties of securities intermediary and
exercise of rights of entitlement holder
490:8-510 Rights of purchaser of security entitlement from
entitlement holder
490:8-511 Priority among security interests and entitlement
holders
ARTICLE 9. SECURED TRANSACTIONS
Part 1. General Provisions
Subpart 1. Short Title, Definitions, and General
Concepts
490:9-101 Short title
490:9-102 Definitions and index of definitions
490:9-103 Purchase-money security interest; application of
payments; burden of establishing
490:9-104 Control of deposit account
490:9-105 Control of electronic chattel paper
490:9-106 Control of investment property
490:9-107 Control of letter-of-credit right
490:9-108 Sufficiency of description
Subpart 2. Applicability of Article
490:9-109 Scope
490:9-110 Security interests arising under article 2 or 2A
Part 2. Effectiveness of Security Agreement;
Attachment of Security Interest; Rights of
Parties to Security Agreement
Subpart 1. Effectiveness and Attachment
490:9-201 General effectiveness of security agreement
490:9-202 Title to collateral immaterial
490:9-203 Attachment and enforceability of security interest;
proceeds; supporting obligations; formal requisites
490:9-204 After-acquired property; future advances
490:9-205 Use or disposition of collateral permissible
490:9-206 Security interest arising in purchase or delivery of
financial asset
Subpart 2. Rights and Duties
490:9-207 Rights and duties of secured party having possession
or control of collateral
490:9-208 Additional duties of secured party having control of
collateral
490:9-209 Duties of secured party if account debtor has been
notified of assignment
490:9-210 Request for accounting; request regarding list of
collateral or statement of account
Part 3. Perfection and Priority
Subpart 1. Law Governing Perfection and Priority
490:9-301 Law governing perfection and priority of
security interests
490:9-302 Law governing perfection and priority of
agricultural liens
490:9-303 Law governing perfection and priority of
security interests in goods covered by a
certificate of title
490:9-304 Law governing perfection and priority of
security interests in deposit accounts
490:9-305 Law governing perfection and priority of
security interests in investment property
490:9-306 Law governing perfection and priority of
security interests in letter-of-credit rights
490:9-307 Location of debtor
Subpart 2. Perfection
490:9-308 When security interest or agricultural lien is
perfected; continuity of perfection
490:9-309 Security interest perfected upon attachment
490:9-310 When filing required to perfect security interest or
agricultural lien; security interests and
agricultural liens to which filing provisions do not
apply
490:9-311 Perfection of security interests in property subject
to certain statutes, regulations, and treaties
490:9-312 Perfection of security interests in chattel paper,
deposit accounts, 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
490:9-313 When possession by or delivery to secured party
perfects security interest without filing
490:9-314 Perfection by control
490:9-315 Secured party's rights on disposition of collateral
and in proceeds
490:9-316 Effect of change in governing law
Subpart 3. Priority
490:9-317 Interests that take priority over or take free of
security interest or agricultural lien
490:9-318 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
490:9-319 Rights and title of consignee with respect to
creditors and purchasers
490:9-320 Buyer of goods
490:9-321 Licensee of general intangible and lessee of goods
in ordinary course of business
490:9-322 Priorities among conflicting security interests in
and agricultural liens on same collateral
490:9-323 Future advances
490:9-324 Priority of purchase-money security interests
490:9-325 Priority of security interests in transferred
collateral
490:9-326 Priority of security interests created by new debtor
490:9-327 Priority of security interests in deposit account
490:9-328 Priority of security interests in investment
property
490:9-329 Priority of security interests in letter-of-credit
right
490:9-330 Priority of purchaser of chattel paper or instrument
490:9-331 Priority of rights of purchasers of instruments,
documents, and securities under other articles;
priority of interests in financial assets and
security entitlements under article 8
490:9-332 Transfer of money; transfer of funds from deposit
account
490:9-333 Priority of certain liens arising by operation of
law
490:9-334 Priority of security interests in fixtures and crops
490:9-335 Accessions
490:9-336 Commingled goods
490:9-337 Priority of security interests in goods covered by
certificate of title
490:9-338 Priority of security interest or agricultural lien
perfected by filed financing statement providing
certain incorrect information
490:9-339 Priority subject to subordination
Subpart 4. Rights of Bank
490:9-340 Effectiveness of right of recoupment or set-off
against deposit account
490:9-341 Bank's rights and duties with respect to deposit
account
490:9-342 Bank's right to refuse to enter into or disclose
existence of control agreement
Part 4. Rights of Third Parties
490:9-401 Alienability of debtor's rights
490:9-402 Secured party not obligated on contract of debtor or
in tort
490:9-403 Agreement not to assert defenses against assignee
490:9-404 Rights acquired by assignee; claims and defenses
against assignee
409:9-405 Modification of assigned contract
490:9-406 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
490:9-407 Restrictions on creation or enforcement of security
interest in leasehold interest or in lessor's
residual interest
490:9-408 Restrictions on assignment of promissory notes,
health-care-insurance receivables, and certain
general intangibles ineffective
490:9-409 Restrictions on assignment of letter-of-credit
rights ineffective
Part 5. Filing
Subpart 1. Filing Office; Contents and Effectiveness
of Financing Statement
490:9-501 Filing office
490:9-502 Contents of financing statement; record of mortgage
as financing statement; time of filing financing
statement
490:9-503 Name of debtor and secured party
490:9-504 Indication of collateral
490:9-505 Filing and compliance with other statutes and
treaties for consignments, leases, other bailments,
and other transactions
490:9-506 Effect of errors or omissions
490:9-507 Effect of certain events on effectiveness of
financing statement
490:9-508 Effectiveness of financing statement if new debtor
becomes bound by security agreement
490:9-509 Persons entitled to file a record
490:9-510 Effectiveness of filed record
490:9-511 Secured party of record
490:9-512 Amendment of financing statement
490:9-513 Termination statement
490:9-514 Assignment of powers of secured party of record
490:9-515 Duration and effectiveness of financing statement;
effect of lapsed financing statement
490:9-516 What constitutes filing; effectiveness of filing
490:9-517 Effect of indexing errors
490:9-518 Claim concerning inaccurate or wrongfully filed
record
Subpart 2. Duties and Operation of Filing Office
490:9-519 Numbering, maintaining, and indexing records;
communicating information provided in records
490:9-520 Acceptance and refusal to accept record
490:9-521 Uniform form of written financing statement and
amendment
490:9-522 Maintenance and destruction of records
490:9-523 Information from filing office; sale or license of
records
490:9-524 Delay by filing office
490:9-525 Fees
490:9-526 Filing-office rules
490:9-527 Duty to report
Part 6. Default
Subpart 1. Default and Enforcement of Security
Interest
490:9-601 Rights after default; judicial enforcement;
consignor or buyer of accounts, chattel paper,
payment intangibles, or promissory notes
490:9-602 Waiver and variance of rights and duties
490:9-603 Agreement on standards concerning rights and duties
490:9-604 Procedure if security agreement covers real property
or fixtures
490:9-605 Unknown debtor or secondary obligor
490:9-606 Time of default for agricultural lien
490:9-607 Collection and enforcement by secured party
490:9-608 Application of proceeds of collection or
enforcement; liability for deficiency and right to
surplus
490:9-609 Secured party's right to take possession after
default
490:9-610 Disposition of collateral after default
490:9-611 Notification before disposition of collateral
490:9-612 Timeliness of notification before disposition of
collateral
490:9-613 Contents and form of notification before disposition
of collateral: general
490:9-614 Contents and form of notification before disposition
of collateral: consumer-goods transaction
490:9-615 Application of proceeds of disposition; liability
for deficiency and right to surplus
490:9-616 Explanation of calculation of surplus or deficiency
490:9-617 Rights of transferee of collateral
490:9-618 Rights and duties of certain secondary obligors
490:9-619 Transfer of record or legal title
490:9-620 Acceptance of collateral in full or partial
satisfaction of obligation; compulsory disposition
of collateral
490:9-621 Notification of proposal to accept collateral
490:9-622 Effect of acceptance of collateral
490:9-623 Right to redeem collateral
490:9-624 Waiver
Subpart 2. Noncompliance with Article
490:9-625 Remedies for secured party's failure to comply with
article
490:9-626 Action in which deficiency or surplus is in issue
490:9-627 Determination of whether conduct was commercially
reasonable
490:9-628 Nonliability and limitation on liability of secured
party; liability of secondary obligor
Part 7. Transition
490:9-701 Effective date
490:9-702 Savings clause
490:9-703 Security interest perfected before effective date
490:9-704 Security interest unperfected before effective date
490:9-705 Effectiveness of action taken before effective date
490:9-706 When initial financing statement suffices to
continue effectiveness of financing statement
490:9-707 Amendment of pre-effective-date financing statement
490:9-708 Persons entitled to file initial financing statement
or continuation statement
490:9-709 Priority
Part 8. Transition Provisions for 2010 Amendments
490:9-801 Effective date
490:9-802 Savings clause
490:9-803 Security interest perfected prior to
July 1, 2013
490:9-804 Security interest unperfected before
July 1, 2013
490:9-805 Effectiveness of action taken before
July 1, 2013
490:9-806 When initial financing statement suffices to
continue effectiveness of financing statement
490:9-807 Amendment of pre-effective-date financing
statement
490:9-808 Person entitled to file initial financing
statement or continuation statement
490:9-809 Priority
ARTICLE 10. EFFECTIVE DATE AND REPEALER
490:10-101 Effective date
490:10-102 Specific repealer; provision for transition
490:10-103 General repealer
490:10-103.1 Inconsistent laws
490:10-104 Laws not repealed
ARTICLE 11. EFFECTIVE DATE AND TRANSITION
PROVISIONS--1978 AMENDATORY ACT
490:11-101 Effective date
490:11-102 Preservation of old transition provision
490:11-103 Transition to new U.C.C.--General Rule
490:11-104 Transition provision on change of requirement of
filing
490:11-105 Transition provision on change of place of filing
490:11-106 Required refilings
490:11-107 Transition provisions as to priorities
490:11-108 Presumption that rule of law continues unchanged
Rules of Court
Applicability of District Court Rules of Civil Procedure, see DCRCP rule 81(b)(5).