reglab/housing_qa huggingface dataset:
MA Gen L ch 9 § 9-502 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-502 - Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement

Section 9–502. (a) Sufficiency of financing statement. Subject to subsection (b), a financing statement is sufficient only if it:  (1) provides the name of the debtor;  (2) provides the name of the secured party or a representative of the secured party; and  (3) indicates the collateral covered by the financing statement.  (b) Real-property-related financing statements. Except as otherwise provided in Section 9–501(b), to be sufficient, a financing statement that covers as-extracted collateral or timber to be cut, or which is filed as a fixture filing and covers goods that are or are to become fixtures, must satisfy subsection (a) and also:  (1) indicate that it covers this type of collateral;  (2) indicate that it is to be filed in the real property records;  (3) provide a description of the real property to which the collateral is related sufficient to give constructive notice of a mortgage under the law of this state if the description were contained in a record of the mortgage of the real property; a reference to book and page number, in the case of unregistered land under chapter 36, or to the document number, in the case of registered land governed by chapter 185, by which the record owner acquired title to the real property shall be sufficient for such purpose; and  (4) if the debtor does not have an interest of record in the real property, provide the name of a record owner.  (c) Record of mortgage as financing statement. A record of a mortgage is effective, from the date of recording, as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut only if:  (1) the record indicates the goods or accounts that it covers;  (2) the goods are or are to become fixtures related to the real property described in the record or the collateral is related to the real property described in the record and is as-extracted collateral or timber to be cut;  (3) the record satisfies the requirements for a financing statement in this section, but:  (A) the record need not indicate that it is to be filed in the real property records; and  (B) the record sufficiently provides the name of a debtor who is an individual if it provides the individual name of the debtor or the surname and first personal name of the debtor, even if the debtor is an individual to whom section 9-503(a)(4) applies; and  (4) the record is duly recorded.  (d) Filing before security agreement or attachment. A financing statement may be filed before a security agreement is made or a security interest otherwise attaches.
MA Gen L ch 9 § 9-327 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-327 - Priority of Security Interests in Deposit Account

Section 9–327. The following rules govern priority among conflicting security interests in the same deposit account:  (1) A security interest held by a secured party having control of the deposit account under Section 9–104 has priority over a conflicting security interest held by a secured party that does not have control.  (2) Except as otherwise provided in paragraphs (3) and (4), security interests perfected by control under Section 9–314 rank according to priority in time of obtaining control.  (3) Except as otherwise provided in paragraph (4), a security interest held by the bank with which the deposit account is maintained has priority over a conflicting security interest held by another secured party.  (4) A security interest perfected by control under Section 9–104(a)(3) has priority over a security interest held by the bank with which the deposit account is maintained.
MA Gen L ch 9 § 9-409 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-409 - Restrictions on Assignment of Letter&ndash;of&ndash;credit Rights Ineffective

Section 9–409. (a) Term or law restricting assignment generally ineffective. A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit which prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom, or practice:  (1) would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right; or  (2) provides that the assignment or the creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the letter-of-credit right.  (b) Limitation on ineffectiveness under subsection (a). To the extent that a term in a letter of credit is ineffective under subsection (a) but would be effective under law other than this article or a custom or practice applicable to the letter of credit, to the transfer of a right to draw or otherwise demand performance under the letter of credit, or to the assignment of a right to proceeds of the letter of credit, the creation, attachment, or perfection of a security interest in the letter-of-credit right:  (1) is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;  (2) imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary; and  (3) does not require the applicant, issuer, nominated person, or transferee beneficiary to recognize the security interest, pay or render performance to the secured party, or accept payment or other performance from the secured party.
MA Gen L ch 9 § 9-326 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-326 - Priority of Security Interests Created by New Debtor

Section 9–326. (a) Subordination of security interest created by new debtor. Subject to subsection (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of section 9–316(i)(1) or 9–508 is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.  (b) Priority under other provisions; multiple original debtors. The other provisions of this part determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (a). However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.
MA Gen L ch 9 § 9-320 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-320 - Buyer of Goods

Section 9–320. (a) Buyer in ordinary course of business. Except as otherwise provided in subsection (e), a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer's seller, even if the security interest is perfected and the buyer knows of its existence.  (b) Buyer of consumer goods. Except as otherwise provided in subsection (e), a buyer of goods from a person who used or bought the goods for use primarily for personal, family, or household purposes takes free of a security interest, even if perfected, if the buyer buys:  (1) without knowledge of the security interest;  (2) for value;  (3) primarily for the buyer's personal, family, or household purposes; and  (4) before the filing of a financing statement covering the goods.  (c) Effectiveness of filing for subsection (b). To the extent that it affects the priority of a security interest over a buyer of goods under subsection (b), the period of effectiveness of a filing made in the jurisdiction in which the seller is located is governed by Sections 9–316(a) and 9–316(b).  (d) Buyer in ordinary course of business at wellhead or minehead. A buyer in ordinary course of business buying oil, gas, or other minerals at the wellhead or minehead or after extraction takes free of an interest arising out of an encumbrance.  (e) Possessory security interest not affected. Subsections (a) and (b) do not affect a security interest in goods in the possession of the secured party under Section 9–313.
MA Gen L ch 9 § 9-209 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-209 - Duties of Secured Party if Account Debtor Has Been Notified of Assignment

Section 9–209. (a) Applicability of section. Except as otherwise provided in subsection (c), this section applies if:  (1) there is no outstanding secured obligation; and  (2) the secured party is not committed to make advances, incur obligations, or otherwise give value.  (b) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under Section 9–406(a) an authenticated record that releases the account debtor from any further obligation to the secured party.  (c) Inapplicability to sales. This section shall not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.
MA Gen L ch 9 § 9-207 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-207 - Rights and Duties of Secured Party Having Possession or Control of Collateral

Section 9–207. (a) Duty of care when secured party in possession. Except as otherwise provided in subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed.  (b) Expenses, risks, duties, and rights when secured party in possession. Except as otherwise provided in subsection (d), if a secured party has possession of collateral:  (1) reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral;  (2) the risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage;  (3) the secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and  (4) the secured party may use or operate the collateral:  (A) for the purpose of preserving the collateral or its value;  (B) as permitted by an order of a court having competent jurisdiction; or  (C) except in the case of consumer goods, in the manner and to the extent agreed by the debtor.  (c) Duties and rights when secured party in possession or control. Except as otherwise provided in subsection (d), a secured party having possession of collateral or control of collateral under Section 9–104, 9–105, 9–106, 9–107 or 7–106:  (1) may hold as additional security any proceeds, except money or funds, received from the collateral;  (2) shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and  (3) may create a security interest in the collateral.  (d) Buyer of certain rights to payment. If the secured party is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor:  (1) subsection (a) shall not apply unless the secured party is entitled under an agreement:  (A) to charge back uncollected collateral; or  (B) otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and  (2) subsections (b) and (c) shall not apply.
MA Gen L ch 9 § 9-206 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-206 - Security Interest Arising in Purchase or Delivery of Financial Asset

Section 9–206. (a) Security interest when person buys through securities intermediary. A security interest in favor of a securities intermediary attaches to a person's security entitlement if:  (1) the person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and  (2) the securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.  (b) Security interest secures obligation to pay for financial asset. The security interest described in subsection (a) secures the person's obligation to pay for the financial asset.  (c) Security interest in payment against delivery transaction. A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if:  (1) the security or other financial asset:  (A) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and  (B) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and  (2) the agreement calls for delivery against payment.  (d) Security interest secures obligation to pay for delivery. The security interest described in subsection (c) secures the obligation to make payment for the delivery.
MA Gen L ch 9 § 9-205 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-205 - Use or Disposition of Collateral Permissible

Section 9–205. (a) When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because:  (1) the debtor has the right or ability to:  (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;  (B) collect, compromise, enforce, or otherwise deal with collateral;  (C) accept the return of collateral or make repossessions; or  (D) use, commingle, or dispose of proceeds; or  (2) the secured party fails to require the debtor to account for proceeds or replace collateral.  (b) Requirements of possession not relaxed. This section shall not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.
MA Gen L ch 9 § 9-204 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-204 - After&ndash;acquired Property; Future Advances

Section 9–204. (a) After-acquired collateral. Except as otherwise provided in subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral.  (b) When after-acquired property clause not effective. A security interest does not attach under a term constituting an after-acquired property clause to:  (1) consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within 10 days after the secured party gives value; or  (2) a commercial tort claim.  (c) Future advances and other value. A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment.
MA Gen L ch 9 § 9-202 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-202 - Title to Collateral Immaterial

Section 9–202. Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor.
MA Gen L ch 9 § 9-201 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-201 - General Effectiveness of Security Agreement

Section 9–201. (a) General effectiveness. Except as otherwise provided in this chapter, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.  (b) Applicable consumer laws and other law. A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers, to any other statute or regulation of the commonwealth that regulates the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit, and to any consumer-protection statute or regulation of the commonwealth.  (c) Other applicable law controls. In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies.  (d) Further deference to other applicable law. This article does not:  (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or  (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
MA Gen L ch 9 § 9-110 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-110 - Security Interests Arising Under Article 2 or 2a

Section 9–110. A security interest arising under Section 2–401, 2–505, 2–711(3), or 2A-508(5) shall be subject to this article, but until the debtor obtains possession of the goods:  (1) the security interest is enforceable, even if Section 9–203(b)(3) has not been satisfied;  (2) filing is not required to perfect the security interest;  (3) the rights of the secured party after default by the debtor are governed by Article 2 or 2A; and  (4) the security interest has priority over a conflicting security interest created by the debtor.
MA Gen L ch 9 § 9-108 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-108 - Sufficiency of Description

Section 9–108. (a) Sufficiency of description. Except as otherwise provided in subsections (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.  (b) Examples of reasonable identification. Except as otherwise provided in subsection (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by:  (1) specific listing;  (2) category;  (3) except as otherwise provided in subsection (e), a type of collateral defined in this chapter;  (4) quantity;  (5) computational or allocational formula or procedure; or  (6) except as otherwise provided in subsection (c), any other method, if the identity of the collateral is objectively determinable.  (c) Supergeneric description not sufficient. A description of collateral as ''all the debtor's assets'' or ''all the debtor's personal property'' or using words of similar import does not reasonably identify the collateral.  (d) Investment property. Except as otherwise provided in subsection (e), a description of a security entitlement, securities account, or commodity account is sufficient if it describes:  (1) the collateral by those terms or as investment property; or  (2) the underlying financial asset or commodity contract.  (e) When description by type insufficient. A description only by type of collateral defined in this chapter is an insufficient description of:  (1) a commercial tort claim; or  (2) in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.
MA Gen L ch 9 § 9-107 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-107 - Control of Letter-of-Credit Right

Section 9–107. A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under Section 5–114(c) or otherwise applicable law or practice.
MA Gen L ch 9 § 9-106 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 9 - Secured Transactions|Section 9-106 - Control of Investment Property

Section 9–106. (a) Control under Section 8–106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8–106.  (b) Control of commodity contract. A secured party has control of a commodity contract if:  (1) the secured party is the commodity intermediary with which the commodity contract is carried; or  (2) the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.  (c) Effect of control of securities account or commodity account. A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.