Iowa Code 554.9310 – When filing required to perfect security interest or agricultural lien — security interests and agricultural liens to which filing provisions do not apply
Current as of: 2023 | Check for updates
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1.
General rule – perfection by filing.
Except as otherwise provided in subsection 2 and section 554.9312, subsection 2, a financing statement must be filed to perfect all security interests and agricultural liens.
Terms Used In Iowa Code 554.9310
- Chattel paper: means the same as defined in section 554. See Iowa Code 554E.1
- Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
- Investment property: means the same as defined in section 554. See Iowa Code 554E.1
- Lien: A claim against real or personal property in satisfaction of a debt.
- property: includes personal and real property. See Iowa Code 4.1
- Rule: includes "regulation". See Iowa Code 4.1
- Statute: A law passed by a legislature.
2.
Exceptions – filing not necessary.
The filing of a financing statement is not necessary to perfect a security interest:
a. that is perfected under section 554.9308, subsection 4, 5, 6, or 7;
b. that is perfected under section 554.9309 when it attaches;
c. in property subject to a statute, regulation, or treaty described in section 554.9311, subsection 1;
d. in goods in possession of a bailee which is perfected under section 554.9312, subsection 4, paragraph “a” or “b”;
e. in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under section 554.9312, subsection 5, 6, or 7;
f. in collateral in the secured party’s possession under section 554.9313;
g. in a certificated security which is perfected by delivery of the security certificate to the secured party under section 554.9313;
h. in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic chattel paper, electronic documents, investment property, or letter-of-credit rights which is perfected by control under section 554.9314;
i. in proceeds which is perfected under section 554.9315; or
j. that is perfected under section 554.9316.
3.
Assignment of perfected security interest.
If a secured party assigns a perfected security interest or agricultural lien, a filing under this Article is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.