30-9A-309. Security interest perfected on attachment. The following security interests are perfected when they attach:

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Terms Used In Montana Code 30-9A-309

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bank: means an organization that is engaged in the business of banking. See Montana Code 30-9A-102
  • Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
  • Commodity account: means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer. See Montana Code 30-9A-102
  • Commodity intermediary: means a person that:

    (i)is registered as a futures commission merchant under federal commodities law; or

    (ii)in the ordinary course of its business provides clearance or settlement services for a board of trade that has been designated as a contract market pursuant to federal commodities law. See Montana Code 30-9A-102

  • Consumer goods: means goods that are used or bought for use primarily for personal, family, or household purposes. See Montana Code 30-9A-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Debtor: means :

    (i)a person having a property interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;

    (ii)a seller of accounts, chattel paper, payment intangibles, or promissory notes; or

    (iii)a consignee. See Montana Code 30-9A-102

  • Decedent: A deceased person.
  • Goods: means all things that are movable when a security interest attaches. See Montana Code 30-9A-102
  • Health-care-insurance receivable: means an interest in or claim under a policy of insurance that is a right to payment of a monetary obligation for health care goods or services provided. See Montana Code 30-9A-102
  • Investment property: means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account. See Montana Code 30-9A-102
  • Payment intangible: means a general intangible under which the account debtor's principal obligation is a monetary obligation. See Montana Code 30-9A-102
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Promissory note: means an instrument that:

    (i)evidences a promise to pay a monetary obligation;

    (ii)does not evidence an order to pay; and

    (iii)does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds. See Montana Code 30-9A-102

  • Statute: A law passed by a legislature.

(1)a purchase-money security interest in consumer goods, except as otherwise provided in 30-9A-311(2) with respect to consumer goods that are subject to a statute or treaty described in 30-9A-311(1);

(2)an assignment of accounts or payment intangibles that does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles;

(3)a sale of a payment intangible;

(4)a sale of a promissory note;

(5)a security interest created by the assignment of a health-care-insurance receivable to the provider of the health care goods or services;

(6)a security interest arising under 30-2-401, 30-2-505, 30-2-711(3), or 30-2A-508(5), until the debtor obtains possession of the collateral;

(7)a security interest of a collecting bank arising under 30-4-208;

(8)a security interest of an issuer or nominated person arising under 30-5-118;

(9)a security interest arising in the purchase or delivery of a financial asset under 30-9A-206(3);

(10)a security interest in investment property created by a broker or securities intermediary;

(11)a security interest in a commodity contract or a commodity account created by a commodity intermediary;

(12)an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and

(13)a security interest created by an assignment of a beneficial interest in a decedent‘s estate.