reglab/housing_qa huggingface dataset:
MI Comp L § 440.9407 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-4 - Part 4 Rights of Third Parties (440.9401...440.9410)|Section 440.9407 - Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest.

440.9407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest. Sec. 9407.  (1) Except as otherwise provided in subsection (2), a term in a lease agreement is ineffective to the extent that it does 1 or more of the following:  (a) Prohibits, restricts, or requires the consent of a party to the lease to the assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, an interest of a party under the lease contract or in the lessor's residual interest in the goods.  (b) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the lease.  (2) Except as otherwise provided in section 2A303(7), a term described in subsection (1)(b) is effective to the extent that there is 1 or more of the following:  (a) A transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term.  (b) A delegation of a material performance of either party to the lease contract in violation of the term.  (3) The creation, attachment, perfection, or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of section 2A303(4) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1976, Act 27, Imd. Eff. Mar. 4, 1976 ;-- Am. 1978, Act 369, Eff. Jan. 1, 1979 ;-- Am. 1988, Act 130, Eff. Sept. 1, 1988 ;-- Am. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9408a (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-4 - Part 4 Rights of Third Parties (440.9401...440.9410)|Section 440.9408a - Repealed. 2000, Act 348, Eff. July 1, 2001.

440.9408a Repealed. 2000, Act 348, Eff. July 1, 2001. Compiler's Notes: The repealed section pertained to financing statement of consignor or lessor of goods.
MI Comp L § 440.9409 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-4 - Part 4 Rights of Third Parties (440.9401...440.9410)|Section 440.9409 - Restrictions on Assignment of Letter-of-Credit Rights Ineffective.

440.9409 Restrictions on assignment of letter-of-credit rights ineffective. Sec. 9409.  (1) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit that 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 does 1 or more of the following:  (a) Would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right.  (b) 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.  (2) To the extent that a term in a letter of credit is ineffective under subsection (1) 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, the term is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary, imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary, and 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. History: Add. 1976, Act 27, Imd. Eff. Mar. 4, 1976 ;-- Am. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9410 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-4 - Part 4 Rights of Third Parties (440.9401...440.9410)|Section 440.9410 - Repealed. 2000, Act 348, Eff. July 1, 2001.

440.9410 Repealed. 2000, Act 348, Eff. July 1, 2001. Compiler's Notes: The repealed section pertained to establishment of subscription service.
MI Comp L § 440.9701 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9701 - “This Amendatory Act” Defined.

440.9701 “This amendatory act” defined. Sec. 9701.  As used in this part, "this amendatory act" means the amendatory act that added this part. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9702 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9702 - Savings Clause.

440.9702 Savings clause. Sec. 9702.  (1) Except as otherwise provided in this part, this amendatory act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this amendatory act takes effect.  (2) Except as otherwise provided in subsection (3) and sections 9703 through 9709, both of the following apply:  (a) Transactions and liens that were not governed by this article before this amendatory act takes effect, were validly entered into or created before this amendatory act takes effect, and would be subject to this amendatory act if they had been entered into or created after this amendatory act takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after this amendatory act takes effect.  (b) The transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this amendatory act or by the law that otherwise would apply if this amendatory act had not taken effect.  (3) This amendatory act does not affect an action, case, or proceeding commenced before this amendatory act takes effect. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9703 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9703 - Security Interest Perfected Before Effective Date.

440.9703 Security interest perfected before effective date. Sec. 9703.  (1) A security interest that is enforceable immediately before this amendatory act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this amendatory act if, when this amendatory act takes effect, the applicable requirements for enforceability and perfection under this amendatory act are satisfied without further action.  (2) Except as otherwise provided in section 9705, if, immediately before this amendatory act takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this amendatory act are not satisfied when this amendatory act takes effect, all of the following apply to the security interest:  (a) The security interest is a perfected security interest for 1 year after this amendatory act takes effect.  (b) The security interest remains enforceable thereafter only if the security interest becomes enforceable under section 9203 before the year expires.  (c) The security interest remains perfected thereafter only if the applicable requirements for perfection under this amendatory act are satisfied before the year expires. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9704 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9704 - Security Interest Unperfected Before Effective Date.

440.9704 Security interest unperfected before effective date. Sec. 9704.  All of the following apply to a security interest that is enforceable immediately before this amendatory act takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:  (a) The security interest remains an enforceable security interest for 1 year after this amendatory act takes effect.  (b) The security interest remains enforceable thereafter if the security interest becomes enforceable under section 9203 when this amendatory act takes effect or within 1 year thereafter.  (c) The security interest becomes perfected under 1 of the following:  (i) Without further action, when this amendatory act takes effect if the applicable requirements for perfection under this amendatory act are satisfied before or at that time.  (ii) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9706 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9706 - When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement.

440.9706 When initial financing statement suffices to continue effectiveness of financing statement. Sec. 9706.  (1) The filing of an initial financing statement in the office specified in section 9501 continues the effectiveness of a financing statement filed before this amendatory act takes effect if all of the following apply:  (a) The filing of an initial financing statement in that office would be effective to perfect a security interest under this amendatory act.  (b) The pre-effective-date financing statement was filed in an office in another state or another office in this state.  (c) The initial financing statement satisfies subsection (3).  (2) The filing of an initial financing statement under subsection (1) continues the effectiveness of the pre-effective-date financing statement if both of the following apply:  (a) If the initial financing statement is filed before this amendatory act takes effect, for the period provided in section 9403 before this amendatory act takes effect with respect to a financing statement.  (b) If the initial financing statement is filed after this amendatory act takes effect, for the period provided in section 9515 with respect to an initial financing statement.  (3) To be effective for purposes of subsection (1), an initial financing statement must do all of the following:  (a) Satisfy the requirements of part 5 for an initial financing statement.  (b) Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement.  (c) Indicate that the pre-effective-date financing statement remains effective. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9707 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9707 - Pre-Effective-Date Financing Statement.

440.9707 Pre-effective-date financing statement. Sec. 9707.  (1) As used in this section, "pre-effective-date financing statement" means a financing statement filed before this amendatory act takes effect.  (2) After this amendatory act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.  (3) Except as otherwise provided in subsection (4), if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this amendatory act takes effect only if 1 of the following is met:  (a) The pre-effective-date financing statement and an amendment are filed in the office specified in section 9501.  (b) An amendment is filed in the office specified in section 9501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies section 9706(3).  (c) An initial financing statement that provides the information as amended and satisfies section 9706(3) is filed in the office specified in section 9501.  (4) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under section 9705(4) and (6) or 9706.  (5) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this amendatory act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies section 9706(3) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in part 3 as the office in which to file a financing statement. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9708 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9708 - Persons Entitled to File Initial Financing Statement or Continuation Statement.

440.9708 Persons entitled to file initial financing statement or continuation statement. Sec. 9708.  A person may file an initial financing statement or a continuation statement under this part if both of the following apply:  (a) The secured party of record authorizes the filing.  (b) The filing is necessary under this part to do 1 of the following:  (i) To continue the effectiveness of a financing statement filed before this amendatory act takes effect.  (ii) To perfect or continue the perfection of a security interest. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9709 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-7 - Part 7 Transition (440.9701...440.9709)|Section 440.9709 - Priority.

440.9709 Priority. Sec. 9709.  (1) This amendatory act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this amendatory act takes effect, this article as in effect before this amendatory act takes effect determines priority.  (2) For purposes of section 9322(1), the priority of a security interest that becomes enforceable under section 9203 of this amendatory act dates from the time this amendatory act takes effect if the security interest is perfected under this amendatory act by the filing of a financing statement before this amendatory act takes effect which would not have been effective to perfect the security interest under this article as in effect before this amendatory act takes effect. This subsection does not apply to conflicting security interests each of which is perfected by the filing of a financing statement described in this subsection. History: Add. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.9801 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-8 - Part 8 Transition Provisions for 2010 Amendments (440.9801...440.9809)|Section 440.9801 - Definitions.

440.9801 Definitions.Sec. 9801.  As used in this part:  (a) "Pre-effective-date financing statement" means a financing statement filed before the effective date of this amendatory act.  (b) "This amendatory act" means the amendatory act that added this part.  (c) "This amended article" means this article as amended by this amendatory act. History: Add. 2012, Act 88, Eff. July 1, 2013
MI Comp L § 440.9802 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-8 - Part 8 Transition Provisions for 2010 Amendments (440.9801...440.9809)|Section 440.9802 - Applicability; Scope.

440.9802 Applicability; scope.Sec. 9802.  (1) Except as otherwise provided in this part, this amendatory act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before the effective date of this amendatory act.  (2) This amendatory act does not affect an action, case, or proceeding commenced before the effective date of this amendatory act. History: Add. 2012, Act 88, Eff. July 1, 2013
MI Comp L § 440.9803 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-8 - Part 8 Transition Provisions for 2010 Amendments (440.9801...440.9809)|Section 440.9803 - Perfected Security Interest Before Effective Date of Amendatory Act.

440.9803 Perfected security interest before effective date of amendatory act.Sec. 9803.  (1) A security interest that is a perfected security interest immediately before the effective date of this amendatory act is a perfected security interest under this amended article if, on the effective date of this amendatory act, the applicable requirements for attachment and perfection under this amended article are satisfied without further action.  (2) Except as otherwise provided in section 9805, if, immediately before the effective date of this amendatory act, a security interest is a perfected security interest, but the applicable requirements for perfection under this amended article are not satisfied on the effective date of this amendatory act, the security interest remains perfected thereafter only if the applicable requirements for perfection under this amended article are satisfied within 1 year after the effective date of this amendatory act. History: Add. 2012, Act 88, Eff. July 1, 2013
MI Comp L § 440.9804 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-8 - Part 8 Transition Provisions for 2010 Amendments (440.9801...440.9809)|Section 440.9804 - Unperfected Security Interest Before Effective Date of Amendatory Act.

440.9804 Unperfected security interest before effective date of amendatory act.Sec. 9804.  A security interest that is an unperfected security interest immediately before the effective date of this amendatory act becomes a perfected security interest when either of the following occurs:  (a) Without further action, on the effective date of this amendatory act if the applicable requirements for perfection under this amended article are satisfied before or at that time.  (b) When the applicable requirements for perfection are satisfied if the requirements are satisfied after the effective date of this amendatory act. History: Add. 2012, Act 88, Eff. July 1, 2013
MI Comp L § 440.9806 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 9 - Secured Transactions (440.9101...440.9994)|174-1962-9-8 - Part 8 Transition Provisions for 2010 Amendments (440.9801...440.9809)|Section 440.9806 - Continuation of Effectiveness of Pre-Effective-Date Financing Statement; Filing of Initial Financing Statement.

440.9806 Continuation of effectiveness of pre-effective-date financing statement; filing of initial financing statement.Sec. 9806.  (1) The filing of an initial financing statement in the office specified in section 9501 continues the effectiveness of a pre-effective-date financing statement if all of the following are met:  (a) The filing of an initial financing statement in that office would be effective to perfect a security interest under this amended article.  (b) The pre-effective-date financing statement was filed in an office in another state.  (c) The initial financing statement satisfies subsection (3).  (2) The filing of an initial financing statement under subsection (1) continues the effectiveness of the pre-effective-date financing statement for 1 of the following periods:  (a) If the initial financing statement is filed before the effective date of this amendatory act, for the period provided in section 9515 as it existed before the effective date of this amendatory act with respect to an initial financing statement.  (b) If the initial financing statement is filed after the effective date of this amendatory act, for the period provided in section 9515 as amended by this amendatory act with respect to an initial financing statement.  (3) To be effective for purposes of subsection (1), an initial financing statement must do all of the following:  (a) Satisfy the requirements of part 5 as amended by this amendatory act for an initial financing statement.  (b) Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement.  (c) Indicate that the pre-effective-date financing statement remains effective. History: Add. 2012, Act 88, Eff. July 1, 2013