reglab/housing_qa huggingface dataset:
IA Code § 554.8509 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.8509 - Specification of duties of securities intermediary by other statute or regulation — manner of performance of duties of securities intermediary and exercise of rights of entitlement holder.

554.8509 Specification of duties of securities intermediary by other statute or regulation — manner of performance of duties of securities intermediary and exercise of rights of entitlement holder.   1. If the substance of a duty imposed upon a securities intermediary by sections 554.8504 through 554.8508 is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty.   2. To the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rights in a commercially reasonable manner.   3. The obligation of a securities intermediary to perform the duties imposed by sections 554.8504 through 554.8508 is subject to:   a. rights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and   b. rights of the securities intermediary under other law, regulation, rule, or agreement to withhold performance of its duties as a result of unfulfilled obligations of the entitlement holder to the securities intermediary.   4. Sections 554.8504 through 554.8508 do not require a securities intermediary to take any action that is prohibited by other statute, regulation, or rule.  96 Acts, ch 1138, §56, 84
IA Code § 554.8510 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.8510 - Rights of purchaser of security entitlement from entitlement holder.

554.8510 Rights of purchaser of security entitlement from entitlement holder.   1. In a case not covered by the priority rules in Article 9 or the rules stated in subsection 3, an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who purchases a security entitlement, or an interest therein, from an entitlement holder if the purchaser gives value, does not have notice of the adverse claim, and obtains control.   2. If an adverse claim could not have been asserted against an entitlement holder under section 554.8502, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder.   3. In a case not covered by the priority rules in Article 9, a purchaser for value of a security entitlement, or an interest therein, who obtains control has priority over a purchaser of a security entitlement, or an interest therein, who does not obtain control. Except as otherwise provided in subsection 4, purchasers who have control rank according to priority in time of:   a. the purchaser’s becoming the person for whom the securities account, in which the security entitlement is carried, is maintained, if the purchaser obtained control under section 554.8106, subsection 4, paragraph “a”;   b. the securities intermediary’s agreement to comply with the purchaser’s entitlement orders with respect to security entitlements carried or to be carried in the securities account in which the security entitlement is carried, if the purchaser obtained control under section 554.8106, subsection 4, paragraph “b”;   c. if the purchaser obtained control through another person under section 554.8106, subsection 4, paragraph “c”, the time on which priority would be based under this subsection if the other person were the secured party; or   4. A securities intermediary as purchaser has priority over a conflicting purchaser who has control unless otherwise agreed by the securities intermediary.  96 Acts, ch 1138, §57, 84; 2000 Acts, ch 1149, §154, 187
IA Code § 554.8511 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.8511 - Priority among security interests and entitlement holders.

554.8511 Priority among security interests and entitlement holders.   1. Except as otherwise provided in subsections 2 and 3, if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor.   2. A claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the securities intermediary’s entitlement holders who have security entitlements with respect to that financial asset if the creditor has control over the financial asset.   3. If a clearing corporation does not have sufficient financial assets to satisfy both its obligations to entitlement holders who have security entitlements with respect to a financial asset and its obligation to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders.  96 Acts, ch 1138, §58, 84  Referred to in §554.8503
IA Code § 554.9101 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9101 - Short title.

554.9101 Short title.   This Article may be cited as Uniform Commercial Code — Secured Transactions.  2000 Acts, ch 1149, §1, 185, 187
IA Code § 554.9104 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9104 - Control of deposit account.

554.9104 Control of deposit account.   1. Requirements for control. A secured party has control of a deposit account if:   a. the secured party is the bank with which the deposit account is maintained;   b. the debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or   c. the secured party becomes the bank’s customer with respect to the deposit account.   2. Debtor’s right to direct disposition. A secured party that has satisfied subsection 1 has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.  2000 Acts, ch 1149, §4, 185, 187  Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9327, 554.9340, 554.9342, 554.9601, 554.9607
IA Code § 554.9105 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9105 - Control of electronic chattel paper.

554.9105 Control of electronic chattel paper.   1. General rule: control of electronic chattel paper. A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.   2. Specific facts giving control. A system satisfies subsection 1 if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:   a. a single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs “d”, “e”, and “f”, unalterable;   b. the authoritative copy identifies the secured party as the assignee of the record or records;   c. the authoritative copy is communicated to and maintained by the secured party or its designated custodian;   d. copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;   e. each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and   f. any amendment of the authoritative copy is readily identifiable as an authorized or unauthorized revision.  2000 Acts, ch 1149, §5, 185, 187; 2012 Acts, ch 1052, §4, 37  Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9330, 554.9601
IA Code § 554.9106 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9106 - Control of investment property.

554.9106 Control of investment property.   1. Control under section 554.8106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 554.8106.   2. Control of commodity contract. A secured party has control of a commodity contract if:   a. the secured party is the commodity intermediary with which the commodity contract is carried; or   b. 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.   3. 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.  2000 Acts, ch 1149, §6, 185, 187  Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9328, 554.9601
IA Code § 554.9107 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9107 - Control of letter-of-credit right.

554.9107 Control of letter-of-credit right.   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 554.5114, subsection 3, or otherwise applicable law or practice.  2000 Acts, ch 1149, §7, 185, 187  Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9329, 554.9601
IA Code § 554.9108 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9108 - Sufficiency of description.

554.9108 Sufficiency of description.   1. Sufficiency of description. Except as otherwise provided in subsections 3, 4, and 5, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.   2. Examples of reasonable identification. Except as otherwise provided in subsection 4, a description of collateral reasonably identifies the collateral if it identifies the collateral by:   a. specific listing;   b. category;   c. except as otherwise provided in subsection 5, a type of collateral defined in this chapter;   d. quantity;   e. computational or allocational formula or procedure; or   f. except as otherwise provided in subsection 3, any other method, if the identity of the collateral is objectively determinable.   3. 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.   4. Investment property. Except as otherwise provided in subsection 5, a description of a security entitlement, securities account, or commodity account is sufficient if it describes:   a. the collateral by those terms or as investment property; or   b. the underlying financial asset or commodity contract.   5. When description by type insufficient. A description only by type of collateral defined in this chapter is an insufficient description of:   a. a commercial tort claim; or   b. in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.  2000 Acts, ch 1149, §8, 185, 187  Referred to in §554.9504
IA Code § 554.9110 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9110 - Security interests arising under Article 2 or 13.

554.9110 Security interests arising under Article 2 or 13.   A security interest arising under section 554.2401, 554.2505, 554.2711, subsection 3, or section 554.13508, subsection 5, is subject to this Article. However, until the debtor obtains possession of the goods:   1. the security interest is enforceable, even if section 554.9203, subsection 2, paragraph “c”, 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 13; and   4. the security interest has priority over a conflicting security interest created by the debtor.  2000 Acts, ch 1149, §10, 185, 187  Referred to in §554.9109, 554.9203, 554.9322
IA Code § 554.9111 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9111 - Applicability of bulk transfer laws.

554.9111 Applicability of bulk transfer laws. Repealed by 94 Acts, ch 1121, §17, 18.
IA Code § 554.9201 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9201 - General effectiveness of security agreement.

554.9201 General effectiveness of security agreement.   1. 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.   2. Applicable consumer laws. A transaction subject to this Article is subject to any applicable rule of law which establishes a different rule for consumers, including as provided in chapter 537, or any other statute or regulation of this state 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.   3. Other applicable law controls. In case of conflict between this Article and a rule of law, statute, or regulation described in subsection 2, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection 2 has only the effect the statute or regulation specifies.   4. Further deference to other applicable law. This Article does not:   a. validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection 2; or   b. extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.  2000 Acts, ch 1149, §11, 185, 187
IA Code § 554.9202 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9202 - Title to collateral immaterial.

554.9202 Title to collateral immaterial.   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.  2000 Acts, ch 1149, §12, 185, 187
IA Code § 554.9204 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9204 - After-acquired property — future advances.

554.9204 After-acquired property — future advances.   1. After-acquired collateral. Except as otherwise provided in subsection 2, a security agreement may create or provide for a security interest in after-acquired collateral.   2. When after-acquired property clause not effective. A security interest does not attach under a term constituting an after-acquired property clause to:   a. consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten days after the secured party gives value; or   b. a commercial tort claim.   3. 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.  2000 Acts, ch 1149, §14, 185, 187  Accessions, see §554.9335
IA Code § 554.9205 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9205 - Use or disposition of collateral permissible.

554.9205 Use or disposition of collateral permissible.   1. When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because:   a. the debtor has the right or ability to:   (1) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;   (2) collect, compromise, enforce, or otherwise deal with collateral;   (3) accept the return of collateral or make repossessions; or   (4) use, commingle, or dispose of proceeds; or   b. the secured party fails to require the debtor to account for proceeds or replace collateral.   2. Requirements of possession not relaxed. This section does 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.  2000 Acts, ch 1149, §15, 185, 187  Secured parties rights on disposition of collateral and in proceeds, see §554.9315
IA Code § 554.9206 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9206 - Security interest arising in purchase or delivery of financial asset.

554.9206 Security interest arising in purchase or delivery of financial asset.   1. 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:   a. 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   b. the securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary.   2. Security interest secures obligation to pay for financial asset. The security interest described in subsection 1 secures the person’s obligation to pay for the financial asset.   3. 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:   a. the security or other financial asset:   (1) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and   (2) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and   b. the agreement calls for delivery against payment.   4. Security interest secures obligation to pay for delivery. The security interest described in subsection 3 secures the obligation to make payment for the delivery.  2000 Acts, ch 1149, §16, 185, 187  Referred to in §554.9203, 554.9309
IA Code § 554.9207 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9207 - Rights and duties of secured party having possession or control of collateral.

554.9207 Rights and duties of secured party having possession or control of collateral.   1. Duty of care when secured party in possession. Except as otherwise provided in subsection 4, 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.   2. Expenses, risks, duties, and rights when secured party in possession. Except as otherwise provided in subsection 4, if a secured party has possession of collateral:   a. 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;   b. the risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage;   c. the secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and   d. the secured party may use or operate the collateral:   (1) for the purpose of preserving the collateral or its value;   (2) as permitted by an order of a court having competent jurisdiction; or   (3) except in the case of consumer goods, in the manner and to the extent agreed by the debtor.   3. Duties and rights when secured party in possession or control. Except as otherwise provided in subsection 4, a secured party having possession of collateral or control of collateral under section 554.7106, 554.9104, 554.9105, 554.9106, or 554.9107:   a. may hold as additional security any proceeds, except money or funds, received from the collateral;   b. shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and   c. may create a security interest in the collateral.   4. 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:   a. subsection 1 does not apply unless the secured party is entitled under an agreement:   (1) to charge back uncollected collateral; or   (2) 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   b. subsections 2 and 3 do not apply.  2000 Acts, ch 1149, §17, 185, 187; 2007 Acts, ch 30, §45, 46, 67  Referred to in §554.9601, 554.9602
IA Code § 554.9209 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 554 - UNIFORM COMMERCIAL CODE|Section 554.9209 - Duties of secured party if account debtor has been notified of assignment.

554.9209 Duties of secured party if account debtor has been notified of assignment.   1. Applicability of section. Except as otherwise provided in subsection 3, this section applies if:   a. there is no outstanding secured obligation; and   b. the secured party is not committed to make advances, incur obligations, or otherwise give value.   2. Duties of secured party after receiving demand from debtor. Within ten 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 554.9406, subsection 1, an authenticated record that releases the account debtor from any further obligation to the secured party.   3. Inapplicability to sales. This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.  2000 Acts, ch 1149, §19, 187  Referred to in §554.9625