reglab/housing_qa huggingface dataset:
MN Stat § 336.8-508 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.8-508 — Duty Of Securities Intermediary To Change Entitlement Holder's Position To Other Form Of Security Holding.

336.8-508 DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER'S POSITION TO OTHER FORM OF SECURITY HOLDING. A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if: (1) the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or (2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder. History:   1995 c 194 art 1 s 48
MN Stat § 336.8-509 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.8-509 — 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.

336.8-509 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. (a) If the substance of a duty imposed upon a securities intermediary by sections 336.8-504 through 336.8-508 is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty. (b) 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. (c) The obligation of a securities intermediary to perform the duties imposed by sections 336.8-504 through 336.8-508 is subject to: (1) rights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and (2) 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. History:   1995 c 194 art 1 s 49
MN Stat § 336.8-510 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.8-510 — Rights Of Purchaser Of Security Entitlement From Entitlement Holder.

336.8-510 RIGHTS OF PURCHASER OF SECURITY ENTITLEMENT FROM ENTITLEMENT HOLDER. (a) In a case not covered by the priority rules in article 9 or the rules stated in subsection (c), 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. (b) If an adverse claim could not have been asserted against an entitlement holder under section 336.8-502, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder. (c) 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 (d), purchasers who have control rank according to priority in time of: (1) 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 336.8-106(d)(1); (2) 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 336.8-106(d)(2); or (3) if the purchaser obtained control through another person under section 336.8-106(d)(3), the time on which priority would be based under this subsection if the other person were the secured party. (d) A securities intermediary as purchaser has priority over a conflicting purchaser who has control, unless otherwise agreed by the securities intermediary. History:  1995 c 194 art 1 s 50; 2000 c 399 art 2 s 20
MN Stat § 336.8-511 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.8-511 — Priority Among Security Interests And Entitlement Holders.

336.8-511 PRIORITY AMONG SECURITY INTERESTS AND ENTITLEMENT HOLDERS. (a) Except as otherwise provided in subsections (b) and (c), 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. (b) 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. (c) 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. History:   1995 c 194 art 1 s 51
MN Stat § 336.8-601 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.8-601 — Effective Date.

336.8-601 EFFECTIVE DATE. Laws 1995, chapter 194, takes effect January 1, 1996. History:   1995 c 194 art 1 s 52
MN Stat § 336.8-603 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.8-603 — Savings Clause.

336.8-603 SAVINGS CLAUSE. (a) Laws 1995, chapter 194, does not affect an action or proceeding commenced before January 1, 1996. (b) If a security interest in a security is perfected on December 31, 1995, and the action by which the security interest was perfected would suffice to perfect a security interest under Laws 1996, chapter 361, no further action is required to continue perfection. If a security interest in a security is perfected on December 31, 1995, but the action by which the security interest was perfected would not suffice to perfect a security interest in the same property under Laws 1996, chapter 361, the security interest remains perfected during the period through December 31, 1996, so long as the security interest could have remained perfected under the law in effect on December 31, 1995, if that law continued in effect after December 31, 1995, and continues perfected thereafter if appropriate action to perfect under Laws 1996, chapter 361, is taken during the one-year period from January 1, 1996, to December 31, 1996. If a security interest is perfected on December 31, 1995, and the security interest can be perfected by filing under Laws 1996, chapter 361, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect. History:  1995 c 194 art 1 s 54; 1996 c 361 s 54
MN Stat § 336.9-101 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-101 — Short Title.

 336.9-101 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-101 SHORT TITLE. This article may be cited as Uniform Commercial Code - Secured Transactions. History:   2000 c 399 art 1 s 1
MN Stat § 336.9-104 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-104 — Control Of Deposit Account.

 336.9-104 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-104 CONTROL OF DEPOSIT ACCOUNT. (a) Requirements for control. A secured party has control of a deposit account if: (1) the secured party is the bank with which the deposit account is maintained; (2) 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 (3) the secured party becomes the bank's customer with respect to the deposit account. (b) Debtor's right to direct disposition. A secured party that has satisfied subsection (a) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. History:   2000 c 399 art 1 s 4
MN Stat § 336.9-105 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-105 — Control Of Electronic Chattel Paper.

 336.9-105 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-105 CONTROL OF ELECTRONIC CHATTEL PAPER. (a) 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. (b) Specific facts giving control. A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that: (1) a single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable; (2) the authoritative copy identifies the secured party as the assignee of the record or records; (3) the authoritative copy is communicated to and maintained by the secured party or its designated custodian; (4) 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; (5) 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 (6) any amendment of the authoritative copy is readily identifiable as authorized or unauthorized. History:  2000 c 399 art 1 s 5; 2011 c 31 art 1 s 2,16
MN Stat § 336.9-106 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-106 — Control Of Investment Property.

 336.9-106 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-106 CONTROL OF INVESTMENT PROPERTY. (a) Control under section 336.8-106.  A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 336.8-106. (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. History:   2000 c 399 art 1 s 6
MN Stat § 336.9-107 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-107 — Control Of Letter Of Credit Right.

 336.9-107 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-107 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 336.5-114(c) or otherwise applicable law or practice. History:   2000 c 399 art 1 s 7
MN Stat § 336.9-108 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-108 — Sufficiency Of Description.

 336.9-108 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-108 SUFFICIENCY OF DESCRIPTION. (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 the Uniform Commercial Code; (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 the Uniform Commercial Code 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. History:   2000 c 399 art 1 s 8
MN Stat § 336.9-110 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-110 — Security Interests Arising Under Article 2 Or 2a.

 336.9-110 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-110 SECURITY INTERESTS ARISING UNDER ARTICLE 2 OR 2A. A security interest arising under section 336.2-401, 336.2-505, 336.2-711(3), or 336.2A-508(5) is subject to this article. However, until the debtor obtains possession of the goods: (1) the security interest is enforceable, even if section 336.9-203(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. History:   2000 c 399 art 1 s 10
MN Stat § 336.9-201 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-201 — General Effectiveness Of Security Agreement.

 336.9-201 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-201 GENERAL EFFECTIVENESS OF SECURITY AGREEMENT. (a) General effectiveness. Except as otherwise provided in the Uniform Commercial Code, 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 and (i) any other statute or regulation that regulates the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit including but not limited to sections 48.153 to 48.157; 53C.01 to 53C.14; 334.01 to 334.06; and chapters 52, 53, and 56, (ii) any consumer protection statute or rule, and (iii) the Manufactured Home Repossession Security Act, sections 327.61 to 327.67. (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. History:  2000 c 399 art 1 s 11; 2001 c 195 art 1 s 6; 2005 c 19 s 1; 2014 c 227 art 2 s 18
MN Stat § 336.9-202 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-202 — Title To Collateral Immaterial.

 336.9-202 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-202 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. History:   2000 c 399 art 1 s 12
MN Stat § 336.9-204 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-204 — After-acquired Property; Future Advances.

 336.9-204 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-204 AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES. (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 ten 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. History:   2000 c 399 art 1 s 14
MN Stat § 336.9-205 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-205 — Use Or Disposition Of Collateral Permissible.

 336.9-205 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-205 USE OR DISPOSITION OF COLLATERAL PERMISSIBLE. (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 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. History:   2000 c 399 art 1 s 15
MN Stat § 336.9-206 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.9-206 — Security Interest Arising In Purchase Or Delivery Of Financial Asset.

 336.9-206 MS 1998 [Repealed, 2000 c 399 art 1 s 140] 336.9-206 SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET. (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 endorsement 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. History:   2000 c 399 art 1 s 16