Ohio Code 1309.309 – Security interest perfected upon attachment – UCC 9-309
The following security interests are perfected when they attach:
Terms Used In Ohio Code 1309.309
- Account: includes health-care insurance receivables. See Ohio Code 1309.102
- Bank: includes savings banks, savings and loan associations, credit unions, and trust companies. See Ohio Code 1309.102
- Collateral: means the property subject to a security interest or agricultural lien, including:
(a) Proceeds to which a security interest attaches;
(b) Accounts, chattel paper, payment intangibles, and promissory notes that have been sold; and
(c) Goods that are the subject of a consignment. See Ohio Code 1309.102
- Commodity intermediary: means a person that:
(a) Is registered as a futures commission merchant under the federal commodities laws; or
(b) 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 the federal commodities laws. See Ohio Code 1309.102
- Consumer goods: means goods that are used or bought for use primarily for personal, family, or household purposes. See Ohio Code 1309.102
- Contract: A legal written agreement that becomes binding when signed.
- Debtor: means :
(a) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;
(b) A seller of accounts, chattel paper, payment intangibles, or promissory notes; or
(c) A consignee. See Ohio Code 1309.102
- Decedent: A deceased person.
- Goods: includes (i) fixtures, (ii) standing timber that is to be cut and removed under a conveyance or contract for sale, (iii) the unborn young of animals, (iv) crops grown, growing, or to be grown, even if the crops are produced on trees, vines, or bushes, and (v) manufactured homes. See Ohio Code 1309.102
- 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 Ohio Code 1309.102
- Investment property: means a security, whether certificated or uncertificated, a security entitlement, a securities account, a commodity contract, or a commodity account. See Ohio Code 1309.102
- Payment intangible: means a general intangible under which the account debtor's principal obligation is a monetary obligation. See Ohio Code 1309.102
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Promissory note: means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds. See Ohio Code 1309.102
- Statute: A law passed by a legislature.
(A) A purchase money security interest in consumer goods, except as otherwise provided in division (B) of section 1309.311 of the Revised Code with respect to consumer goods that are subject to a statute or treaty described in division (A) of section 1309.311 of the Revised Code;
(B) 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;
(C) A sale of a payment intangible;
(D) A sale of a promissory note;
(E) A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services;
(F) A security interest arising under section 1302.42, 1302.49, division (C) of section 1302.85, or division (E) of section 1310.54 of the Revised Code, until the debtor obtains possession of the collateral;
(G) A security interest of a collecting bank arising under section 1304.20 of the Revised Code;
(H) A security interest of an issuer or nominated person arising under section 1305.18 of the Revised Code;
(I) A security interest arising in the delivery of a financial asset under division (C) of section 1309.206 of the Revised Code;
(J) A security interest in investment property created by a broker or securities intermediary;
(K) A security interest in a commodity contract or a commodity account created by a commodity intermediary;
(L) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and
(M) A security interest created by an assignment of a beneficial interest in a decedent‘s estate.