reglab/housing_qa huggingface dataset:
MT Code § 30-9A-311 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties

  30-9A-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties. (1) Except as otherwise provided in subsection (4), the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to:   (a) a statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt 30-9A-310(1);   (b) the certificate of title provisions of Title 23 or 61; or   (c) a statute of another jurisdiction that provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property.   (2) Compliance with the requirements of a statute, regulation, or treaty described in subsection (1) for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this chapter. Except as otherwise provided in 30-9A-313 and 30-9A-316(4) and (5) and subsection (4) of this section for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in subsection (1) may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.   (3) Except as otherwise provided in 30-9A-316(4) and (5) and subsection (4) of this section, duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in subsection (1) are governed by the statute, regulation, or treaty. In other respects the security interest is subject to this chapter.   (4) During any period in which collateral subject to a statute specified in subsection (1)(b) is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.   History: En. Sec. 30, Ch. 305, L. 1999; amd. Sec. 7, Ch. 179, L. 2001; Sec. 30-9-331, MCA 1999; redes. 30-9A-311 by Code Commissioner, 2001; amd. Sec. 38, Ch. 477, L. 2003; amd. Sec. 5, Ch. 75, L. 2013.
MT Code § 30-9A-314 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-314. Perfection by control

  30-9A-314. Perfection by control. (1) A security interest in investment property, a deposit account, a letter-of-credit right, or electronic chattel paper may be perfected by control of the collateral under 30-7-107, 30-9A-104, 30-9A-105, 30-9A-106, or 30-9A-107.   (2) A security interest in a deposit account, electronic chattel paper, a letter-of-credit right, or electronic document is perfected by control under 30-7-107, 30-9A-104, 30-9A-105, or 30-9A-107 when the secured party obtains control and remains perfected by control only while the secured party retains control.   (3) A security interest in investment property is perfected by control under 30-9A-106 from the time the secured party obtains control and remains perfected by control until:   (a) the secured party does not have control; and   (b) one of the following occurs:   (i) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate;   (ii) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or   (iii) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.   History: En. Sec. 33, Ch. 305, L. 1999; Sec. 30-9-334, MCA 1999; redes. 30-9A-314 by Code Commissioner, 2001; amd. Sec. 82, Ch. 575, L. 2005.
MT Code § 30-9A-315 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-315. Secured party's rights on disposition of collateral and in proceeds

  30-9A-315. Secured party's rights on disposition of collateral and in proceeds. (1) Except as otherwise provided in 30-2-403(2) and this chapter:   (a) a security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien; and   (b) a security interest attaches to any identifiable proceeds of collateral.   (2) Proceeds that are commingled with other property are identifiable proceeds:   (a) if the proceeds are goods, to the extent provided by 30-9A-336; and   (b) if the proceeds are not goods, to the extent that the secured party identifies the proceeds by a method of tracing, including application of equitable principles, that is permitted under law other than this chapter with respect to commingled property of the type involved.   (3) A security interest in proceeds is a perfected security interest if the security interest in the original collateral was perfected.   (4) A perfected security interest in proceeds becomes unperfected on the 21st day after the security interest attaches to the proceeds unless:   (a) the following conditions are satisfied:   (i) a filed financing statement covers the original collateral;   (ii) the proceeds are collateral in which a security interest may be perfected by filing in the office in which the financing statement has been filed; and   (iii) the proceeds are not acquired with cash proceeds;   (b) the proceeds are identifiable cash proceeds; or   (c) the security interest in the proceeds is perfected when the security interest attaches to the proceeds or within 20 days thereafter.   (5) If a filed financing statement covers the original collateral, a security interest in proceeds that remains perfected under subsection (4)(a) becomes unperfected at the later of:   (a) when the effectiveness of the filed financing statement lapses under 30-9A-515 or is terminated under 30-9A-513; or   (b) the 21st day after the security interest attaches to the proceeds.   History: En. Sec. 34, Ch. 305, L. 1999; Sec. 30-9-335, MCA 1999; redes. 30-9A-315 by Code Commissioner, 2001.
MT Code § 30-9A-317 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-317. Interests that take priority over or take free of security interest or agricultural lien

  30-9A-317. Interests that take priority over or take free of security interest or agricultural lien. (1) A security interest or agricultural lien is subordinate to the rights of:   (a) a person entitled to priority under 30-9A-322; and   (b) except as otherwise provided in subsection (5), a person that becomes a lien creditor before the earlier of the time:   (i) the security interest or agricultural lien is perfected; or   (ii) one of the conditions specified in 30-9A-203(2)(c) is met and a financing statement covering the collateral is filed.   (2) Except as otherwise provided in subsection (5), a buyer, other than a secured party, of chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.   (3) Except as otherwise provided in subsection (5), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.   (4) A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.   (5) Except as otherwise provided in 30-9A-320 and 30-9A-321, if a person files a financing statement with respect to a purchase-money security interest before or within 20 days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor that arise between the time the security interest attaches and the time of filing.   History: En. Sec. 36, Ch. 305, L. 1999; amd. Sec. 8, Ch. 179, L. 2001; Sec. 30-9-337, MCA 1999; redes. 30-9A-317 by Code Commissioner, 2001; amd. Sec. 83, Ch. 575, L. 2005; amd. Sec. 7, Ch. 75, L. 2013.
MT Code § 30-9A-318 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-318. No interest retained in right to payment that is sold -- rights and title of seller of account or chattel paper with respect to creditors and purchasers

  30-9A-318. No interest retained in right to payment that is sold -- rights and title of seller of account or chattel paper with respect to creditors and purchasers. (1) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.   (2) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor has rights and title to the account or chattel paper identical to those the debtor sold.   History: En. Sec. 37, Ch. 305, L. 1999; Sec. 30-9-338, MCA 1999; redes. 30-9A-318 by Code Commissioner, 2001.
MT Code § 30-9A-319 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-319. Rights and title of consignee with respect to creditors and purchasers

  30-9A-319. Rights and title of consignee with respect to creditors and purchasers. (1) Except as otherwise provided in subsection (2), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee has rights and title to the goods identical to those the consignor had or had power to transfer.   (2) For purposes of determining the rights of a creditor of a consignee, law other than this chapter determines the rights and title of a consignee while goods are in the consignee's possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor.   History: En. Sec. 38, Ch. 305, L. 1999; Sec. 30-9-339, MCA 1999; redes. 30-9A-319 by Code Commissioner, 2001.
MT Code § 30-9A-320 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-320. Buyer of goods

  30-9A-320. Buyer of goods. (1) Except as otherwise provided in subsection (5), 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.   (2) Except as otherwise provided in subsection (5), 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:   (a) without knowledge of the security interest;   (b) for value;   (c) primarily for the buyer's personal, family, or household purposes; and   (d) before the filing of a financing statement covering the goods.   (3) To the extent that it affects the priority of a security interest over a buyer of goods under subsection (2), the period of effectiveness of a filing made in the jurisdiction in which the seller is located is governed by 30-9A-316(1) and (2).   (4) 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.   (5) Subsections (1) and (2) do not affect a security interest in goods in the possession of the secured party under 30-9A-313.   History: En. Sec. 39, Ch. 305, L. 1999; Sec. 30-9-340, MCA 1999; redes. 30-9A-320 by Code Commissioner, 2001.
MT Code § 30-9A-321 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-321. Licensee of general intangible and lessee of goods in ordinary course of business

  30-9A-321. Licensee of general intangible and lessee of goods in ordinary course of business. (1) In this section, "licensee in ordinary course of business" means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in ordinary course of business if the license to the person comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices.   (2) A licensee of a general intangible in ordinary course of business takes its rights under the license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected and the licensee knows of its existence.   (3) A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the security interest is perfected and the lessee knows of its existence.   History: En. Sec. 40, Ch. 305, L. 1999; Sec. 30-9-341, MCA 1999; redes. 30-9A-321 by Code Commissioner, 2001.
MT Code § 30-9A-323 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-323. Future advances

  30-9A-323. Future advances. (1) Except as otherwise provided in subsection (3), for purposes of determining the priority of a perfected security interest under 30-9A-322(1)(a), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:   (a) is made while the security interest is perfected only:   (i) under 30-9A-309 when it attaches; or   (ii) temporarily under 30-9A-312(5), (6), or (7); and   (b) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under 30-9A-309 or 30-9A-312(5), (6), or (7).   (2) Except as otherwise provided in subsection (3), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than 45 days after the person becomes a lien creditor unless the advance is made:   (a) without knowledge of the lien; or   (b) pursuant to a commitment entered into without knowledge of the lien.   (3) Subsections (1) and (2) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.   (4) Except as otherwise provided in subsection (5), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:   (a) the time the secured party acquires knowledge of the buyer's purchase; or   (b) 45 days after the purchase.   (5) Subsection (4) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the 45-day period.   (6) Except as otherwise provided in subsection (7), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:   (a) the time the secured party acquires knowledge of the lease; or   (b) 45 days after the lease contract becomes enforceable.   (7) Subsection (6) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.   History: En. Sec. 42, Ch. 305, L. 1999; amd. Sec. 9, Ch. 179, L. 2001; Sec. 30-9-343, MCA 1999; redes. 30-9A-323 by Code Commissioner, 2001.
MT Code § 30-9A-325 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-325. Priority of security interests in transferred collateral

  30-9A-325. Priority of security interests in transferred collateral. (1) Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:   (a) the debtor acquired the collateral subject to the security interest created by the other person;   (b) the security interest created by the other person was perfected when the debtor acquired the collateral; and   (c) there is no period thereafter when the security interest is unperfected.   (2) Subsection (1) subordinates a security interest only if the security interest:   (a) otherwise would have priority solely under 30-9A-322(1) or 30-9A-324; or   (b) arose solely under 30-2-711(3) or 30-2A-508(5).   History: En. Sec. 44, Ch. 305, L. 1999; Sec. 30-9-345, MCA 1999; redes. 30-9A-325 by Code Commissioner, 2001.
MT Code § 30-9A-326 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-326. Priority of security interests created by new debtor

  30-9A-326. Priority of security interests created by new debtor. (1) Subject to subsection (2), 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 30-9A-316(9)(a) or 30-9A-508 is subordinate to a security interest in the same collateral that is perfected other than by such a filed financing statement.   (2) 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 (1). 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.   History: En. Sec. 45, Ch. 305, L. 1999; Sec. 30-9-346, MCA 1999; redes. 30-9A-326 by Code Commissioner, 2001; amd. Sec. 8, Ch. 75, L. 2013.
MT Code § 30-9A-327 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-327. Priority of security interests in deposit account

  30-9A-327. Priority of security interests in deposit account. 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 30-9A-104 has priority over a conflicting security interest held by a secured party that does not have control.   (2) Except as otherwise provided in subsections (3) and (4), security interests perfected by control under 30-9A-314 rank according to priority in time of obtaining control.   (3) Except as otherwise provided in subsection (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 30-9A-104(1)(c) has priority over a security interest held by the bank with which the deposit account is maintained.   History: En. Sec. 46, Ch. 305, L. 1999; Sec. 30-9-347, MCA 1999; redes. 30-9A-327 by Code Commissioner, 2001.
MT Code § 30-9A-328 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 9A. Uniform Commercial Code Secured Transactions|Part 3. Perfection and Priority|30-9A-328. Priority of security interests in investment property

  30-9A-328. Priority of security interests in investment property. The following rules govern priority among conflicting security interests in the same investment property:   (1) A security interest held by a secured party having control of investment property under 30-9A-106 has priority over a security interest of a secured party that does not have control of the investment property.   (2) Except as otherwise provided in subsections (3) and (4), conflicting security interests held by secured parties each of which has control under 30-9A-106 rank according to priority in time of:   (a) if the collateral is a security, obtaining control;   (b) if the collateral is a security entitlement carried in a securities account and:   (i) if the secured party obtained control under 30-8-116(4)(a), the secured party's becoming the person for which the securities account is maintained;   (ii) if the secured party obtained control under 30-8-116(4)(b), the securities intermediary's agreement to comply with the secured party's entitlement orders with respect to security entitlements carried or to be carried in the securities account; or   (iii) if the secured party obtained control through another person under 30-8-116(4)(c), the time on which priority would be based under this subsection if the other person were the secured party; or   (c) if the collateral is a commodity contract carried with a commodity intermediary, the satisfaction of the requirement for control specified in 30-9A-106(2)(b) with respect to commodity contracts carried or to be carried with the commodity intermediary.   (3) A security interest held by a securities intermediary in a security entitlement or a securities account maintained with the securities intermediary has priority over a conflicting security interest held by another secured party.   (4) A security interest held by a commodity intermediary in a commodity contract or a commodity account maintained with the commodity intermediary has priority over a conflicting security interest held by another secured party.   (5) A security interest in a certificated security in registered form that is perfected by taking delivery under 30-9A-313(1) and not by control under 30-9A-314 has priority over a conflicting security interest perfected by a method other than control.   (6) Conflicting security interests granted by a broker, securities intermediary, or commodity intermediary that are perfected without control under 30-9A-106 rank equally.   (7) In all other cases, priority among conflicting security interests in investment property is governed by 30-9A-322 and 30-9A-323.   History: En. Sec. 47, Ch. 305, L. 1999; Sec. 30-9-348, MCA 1999; redes. 30-9A-328 by Code Commissioner, 2001.