Article 9 — Secured Transactions · Section 9-310
This section outlines the requirements and scope for filing a financing statement to perfect a security interest under UCC Article 9.
Source: U.C.C. § 9-310
A financing statement must be filed to perfect a security interest, except as provided in subsection (b), which lists exceptions to filing requirements.
UCC § 9-310 states that a secured party typically must file a financing statement to perfect their security interest in collateral. However, there are certain exceptions where perfection can be achieved without filing.
A document filed to give public notice of a security interest in personal property.
The legal process that a secured party undergoes to protect its rights in collateral against third parties.
Example 1
A bank files a financing statement to perfect its interest in a borrower's machinery as collateral for a loan.
Example 2
A seller retains a security interest in goods sold until the buyer pays in full, but may not need to file if the goods are in the buyer's possession and not subject to other liens.