The Vermont Statutes Online

Title 9A: Uniform Commercial Code

Article 9: Secured Transactions

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.

 Part 1: Applicability, Definitions, And General Concepts
§ 101   Short title
§ 102   Definitions and index of definitions
§ 103   Purchase-money security interest; application of payments; burden of establishing
§ 103A   'Production-money crops'; 'production-money obligation'; 'production-money security interest'; burden of establishing
§ 104   Control of deposit account
§ 105   Control of electronic chattel paper
§ 106   Control of investment property
§ 107   Control of letter-of-credit right
§ 108   Sufficiency of description in a security agreement
§ 109   Scope
§ 110   Security interests arising under Article 2 or 2a
 Part 2: Effectiveness Of Security Agreement; Attachment Of Security Interest; Rights Of Parties To Security Agreement
§ 201   General effectiveness of security agreement
§ 202   Title to collateral immaterial
§ 203   Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites
§ 204   After-acquired property; future advances
§ 205   Use or disposition of collateral permissible
§ 206   Security interest arising in purchase or delivery of financial asset
§ 207   Rights and duties of secured party having possession or control of collateral
§ 208   Additional duties of secured party having control of collateral
§ 209   Duties of secured party if account debtor has been notified of assignment
§ 210   Request for accounting; request regarding list of collateral or statement of account
 Part 3: Perfection And Priority
§ 301   Law governing perfection and priority of security interests
§ 302   Law governing perfection and priority of agricultural liens
§ 303   Law governing perfection and priority of security interests in goods covered by a certificate of title
§ 304   Law governing perfection and priority of security interests in deposit accounts
§ 305   Law governing perfection and priority of security interests in investment property
§ 306   Law governing perfection and priority of security interests in letter-of-credit rights
§ 307   Location of debtor
§ 308   When security interest or agricultural lien is perfected; continuity of perfection
§ 309   Security interest perfected upon attachment
§ 310   When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply
§ 311   Perfection of security interests in property subject to certain statutes, regulations, and treaties
§ 312   Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing;
§ 313   When possession by or delivery to secured party perfects security interest without filing
§ 314   Perfection by control
§ 315   Secured party's rights on disposition of collateral and in proceeds
§ 316   Continued perfection of security interest following change in governing law
§ 317   Interests that take priority over or take free of security interest or agricultural lien
§ 318   No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers
§ 319   Rights and title of consignee with respect to creditors and purchasers
§ 320   Buyer of goods
§ 321   Licensee of general intangible and lessee of goods in ordinary course of business
§ 322   Priorities among conflicting security interests in and agricultural liens on same collateral
§ 323   Future advances
§ 324   Priority of purchase-money security interests
§ 325   Priority of security interests in transferred collateral
§ 326   Priority of security interests created by new debtor
§ 327   Priority of security interests in deposit account
§ 328   Priority of security interests in investment property
§ 329   Priority of security interests in letter-of-credit right
§ 330   Priority of purchaser of chattel paper or instrument
§ 331   Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under article 8
§ 332   Transfer of money; transfer of funds from deposit account
§ 333   Priority of certain liens arising by operation of law
§ 334   Priority of security interests in fixtures and crops
§ 335   Accessions
§ 336   Commingled goods
§ 337   Priority of security interests in goods covered by certificate of title
§ 338   Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
§ 339   Priority subject to subordination
§ 340   Effectiveness of right of recoupment or set-off against deposit account
§ 341   Bank's rights and duties with respect to deposit account
§ 342   Bank's right to refuse to enter into or disclose existence of control agreement
 Part 4: Rights Of Third Parties
§ 401   Alienability of debtor's rights
§ 402   Secured party not obligated on contract of debtor or in tort
§ 403   Agreement not to assert defenses against assignee
§ 404   Rights acquired by assignee; claims and defenses against assignee
§ 405   Modification of assigned contract
§ 406   Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective
§ 407   Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest
§ 408   Restrictions on assignment of promissory notes, health care insurance receivables, and certain general intangibles ineffective
§ 409   Restrictions on assignment of letter-of-credit rights ineffective
 Part 5: Filing
§ 501   Filing office
§ 502   Contents of financing statement; record of mortgage as financing statement; time of filing financing statement
§ 503   Name of debtor and secured party
§ 504   Indication of collateral
§ 505   Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions
§ 506   Effect of errors or omissions
§ 507   Effect of certain events on effectiveness of financing statement
§ 508   Effectiveness of financing statement if new debtor becomes bound by security agreement
§ 509   Persons entitled to file a record
§ 510   Effectiveness of filed record
§ 511   Secured party of record
§ 512   Amendment of financing statement
§ 513   Termination statement
§ 514   Assignment of powers of secured party of record
§ 515   Duration and effectiveness of financing statement; effect of lapsed financing statement
§ 516   What constitutes filing; effectiveness of filing
§ 517   Effect of indexing errors
§ 518   Claim concerning inaccurate or wrongfully filed record
§ 519   Numbering, maintaining, and indexing records; communicating information provided in records
§ 520   Acceptance and refusal to accept record
§ 521   Uniform form of written financing statement and amendment
§ 522   Maintenance and destruction of records
§ 523   Information from filing office; sale or license of records
§ 524   Delay by filing office
§ 525   Fees
§ 526   Filing office rules
§ 527   Duty to report
 Part 6: Default
§ 601   Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes
§ 602   Waiver and variance of rights and duties
§ 603   Agreement on standards concerning rights and duties
§ 604   Procedure if security agreement covers real property or fixtures
§ 605   Unknown debtor or secondary obligor
§ 606   Time of default for agricultural lien
§ 607   Collection and enforcement by secured party
§ 608   Application of proceeds of collection or enforcement; liability for deficiency and right to surplus
§ 609   Secured party's right to take possession after default
§ 610   Disposition of collateral after default
§ 611   Notification before disposition of collateral
§ 612   Timeliness of notification before disposition of collateral
§ 613   Contents and form of notification before disposition of collateral: general
§ 614   Contents and form of notification before disposition of collateral; consumer goods transaction
§ 615   Application of proceeds of disposition; liability for deficiency and right to surplus
§ 616   Explanation of calculation of surplus or deficiency
§ 617   Rights of transferee of collateral
§ 618   Rights and duties of certain secondary obligors
§ 619   Transfer of record or legal title
§ 620   Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral
§ 621   Notification of proposal to accept collateral
§ 622   Effect of acceptance of collateral
§ 623   Right to redeem collateral
§ 624   Waiver
§ 625   Remedies for secured party's failure to comply with article
§ 626   Action in which deficiency or surplus is in issue
§ 627   Determination of whether conduct was commercially reasonable
§ 628   Nonliability and limitation on liability of secured party; liability of secondary obligor
 Part 7: Transition
§ 701   Effective date
§ 702   Savings clause
§ 703   Security interest perfected before effective date
§ 704   Security interest unperfected before effective date
§ 705   Effectiveness of action taken before effective date
§ 706   When initial financing statement suffices as continuation statement
§ 707   Amendment of preeffective-date financing statement
§ 708   Persons entitled to file initial financing statement or continuation statement
§ 709   Priority

  • Full text of Article 9.