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