Oregon Statutes 79.0307 – UCC 9-307. Location of debtor
(1) As used in this section, ‘place of business’ means a place where a debtor conducts its affairs.
Terms Used In Oregon Statutes 79.0307
- Bank: means an organization that is engaged in the business of banking. See Oregon Statutes 79.0102
- Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Registered organization: includes a business trust that is formed or organized under the law of a single state if a statute of the state governing business trusts requires that the business trust's organic record be filed with the state. See Oregon Statutes 79.0102
- Service of process: The service of writs or summonses to the appropriate party.
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 79.0102
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(2) Except as otherwise provided in this section, the following rules determine a debtor’s location:
(a) A debtor who is an individual is located at the individual’s principal residence.
(b) A debtor that is an organization and has only one place of business is located at its place of business.
(c) A debtor that is an organization and has more than one place of business is located at its chief executive office.
(3) Subsection (2) of this section applies only if a debtor’s residence, place of business or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording or registration system as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral. If subsection (2) of this section does not apply, the debtor is located in the District of Columbia.
(4) A person that ceases to exist, have a residence or have a place of business continues to be located in the jurisdiction specified by subsections (2) and (3) of this section.
(5) A registered organization that is organized under the law of a state is located in that state.
(6) Except as otherwise provided in subsection (9) of this section, a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located:
(a) In the state that the law of the United States designates, if the law designates a state of location;
(b) In the state that the registered organization, branch or agency designates, if the law of the United States authorizes the registered organization, branch or agency to designate its state of location, including by designating its main office, home office or other comparable office; or
(c) In the District of Columbia, if neither paragraph (a) nor paragraph (b) of this subsection applies.
(7) A registered organization continues to be located in the jurisdiction specified by subsection (5) or (6) of this section notwithstanding:
(a) The suspension, revocation, forfeiture or lapse of the registered organization’s status as such in its jurisdiction of organization; or
(b) The dissolution, winding up or cancellation of the existence of the registered organization.
(8) The United States is located in the District of Columbia.
(9) A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one state.
(10) A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.
(11) This section applies only for purposes of ORS § 79.0301 to 79.0342. [2001 c.445 § 27; 2012 c.12 § 4]
(Perfection)