Section 9–310. (a) General rule: perfection by filing. Except as otherwise provided in subsection (b) and Section 9–312(b), a financing statement must be filed to perfect all security interests and agricultural liens.

Terms Used In Massachusetts General Laws ch. 106 sec. 9-310

  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Statute: A law passed by a legislature.

(b) Exceptions: filing not necessary. The filing of a financing statement is not necessary to perfect a security interest:

(1) that is perfected under Section 9–308(d), (e), (f), or (g);

(2) that is perfected under Section 9–309 when it attaches;

(3) in property subject to a statute, regulation, or treaty described in Section 9–311(a);

(4) in goods in possession of a bailee which is perfected under Section 9–312(d)(1) or (2);

(5) in certificated securities, documents, goods, or instruments which is perfected without filing, control or possession under Section 9–312(e), (f), or (g);

(6) in collateral in the secured party’s possession under Section 9–313;

(7) in a certificated security which is perfected by delivery of the security certificate to the secured party under Section 9–313;

(8) in deposit accounts, electronic chattel paper, electronic documents, investment property, or letter-of-credit rights which is perfected by control under Section 9–314;

(9) in proceeds which is perfected under Section 9–315; or

(10) that is perfected under Section 9–316.

(c) 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.

  Previous section
Next section  
 Article 9 Contents