Iowa Code 554.9306A – Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles
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Terms Used In Iowa Code 554.9306A
- Account: means the same as defined in section 554. See Iowa Code 554E.1
- Controllable electronic record: means an electronic record that can be subjected to control under any applicable article of the uniform commercial code. See Iowa Code 554E.1
- Controllable payment intangible: means a payment intangible evidenced by a controllable electronic record that provides that the account debtor undertakes to pay a person that under any applicable article of the uniform commercial code has control of the controllable electronic record. See Iowa Code 554E.1
- Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
The local law of this state governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable account, controllable electronic record, or controllable payment intangible granted by a debtor located in this state at the time the security interest becomes enforceable against the debtor with respect to the collateral under section 554.9203.