Article 9 — Secured Transactions · Section 9-311
Explore UCC § 9-311, which outlines the priority rules for secured transactions and applicable exceptions to filing requirements.
Source: U.C.C. § 9-311
A security interest in property subject to a statute or treaty that provides for a security interest in the property may be perfected only in accordance with the provisions of the statute or treaty.
UCC § 9-311 describes when a security interest can be perfected under specific statutory or treaty provisions. It indicates that certain types of property have their own unique perfection processes outside the typical requirements of Article 9.
An interest in personal property or fixtures that secures payment or performance of an obligation.
The legal process by which a secured party establishes its right to priority over other creditors regarding a collateral.
Example 1
A lender holds a security interest in a vehicle that is subject to the Certificate of Title Act, requiring the security interest to be recorded on the title; thus, the lender's claim prevails over other creditors.
Example 2
A farmer secures a loan with a storage facility full of crops, but due to UCC § 9-311, the security interest must be perfected according to agricultural laws pertaining to the storage of such crops.