Texas Business and Commerce Code 9.309 – Security Interest Perfected Upon Attachment
Terms Used In Texas Business and Commerce Code 9.309
- Contract: A legal written agreement that becomes binding when signed.
- Decedent: A deceased person.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Statute: A law passed by a legislature.
The following security interests are perfected when they attach:
(1) a purchase money security interest in consumer goods, except as otherwise provided in § 9.311(b) with respect to consumer goods that are subject to a statute or treaty described in § 9.311(a);
(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 § 2.401, 2.505, 2.711(c), or 2A.508(e), until the debtor obtains possession of the collateral;
(7) a security interest of a collecting bank arising under § 4.210;
(8) a security interest of an issuer or nominated person arising under § 5.118;
(9) a security interest arising in the delivery of a financial asset under § 9.206(c);
(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 the creditors of the transferor and subsequent transfers by the assignee thereunder;
(13) a security interest created by an assignment of a beneficial interest in a decedent‘s estate; and
(14) a sale by an individual of an account that is a right to payment of winnings in a lottery or other game of chance.