reglab/housing_qa huggingface dataset:
9 V.S.A. § 8-510
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 8 - Investment Securities|§ 8-510. Rights of purchaser of security entitlement from entitlement holder

§ 8-510. Rights of purchaser of security entitlement from entitlement holder|(a) In a case not covered by the priority rules in Article 9 of this title or the rules stated in subdivision (c) of this section, 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 8- 502 of this title, 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 of this title, 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 subdivision (d) of this section, 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 subdivision 8- 106(d)(1) of this title; (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 subdivision 8- 106(d)(2) of this title; or (3) if the purchaser obtained control through another person under subdivision 8- 106(d)(3) of this title, 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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997; amended 1999, No. 106 (Adj. Sess.), § 22, eff. July 1, 2001.)
9 V.S.A. § 8-511
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 8 - Investment Securities|§ 8-511. Priority among security interests and entitlement holders

§ 8-511. Priority among security interests and entitlement holders|(a) Except as otherwise provided in subsections (b) and (c) of this section, 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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
9 V.S.A. § 9-101
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-101. Short title

§ 9-101. Short title|This article may be cited as Uniform Commercial Code- Secured Transactions. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-103A
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-103A. "Production-money crops"; "production-money obligation"; "production-money security interest"; burden of establishing

§ 9-103A. "Production-money crops"; "production-money obligation"; "production-money security interest"; burden of establishing|(a) A security interest in crops is a production-money security interest to the extent that the crops are production-money crops.(b) If the extent to which a security interest is a production-money security interest depends on the application of a payment to a particular obligation, the payment must be applied:  (1) in accordance with any reasonable method of application to which the parties agree; (2) in the absence of the parties' agreement to a reasonable method, in accordance with any intention of the obligor manifested at or before the time of payment; or (3) in the absence of an agreement to a reasonable method and a timely manifestation of the obligor's intention, in the following order:  (A) to obligations that are not secured; and (B) if more than one obligation is secured, to obligations secured by production-money security interests in the order in which those obligations were incurred.    (c) A production-money security interest does not lose its status as such, even if:  (1) the production-money crops also secure an obligation that is not a production-money obligation; (2) collateral that is not production-money crops also secures the production-money obligation; or (3) the production-money obligation has been renewed, refinanced, or restructured.   (d) A secured party claiming a production-money security interest has the burden of establishing the extent to which the security interest is a production-money security interest. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-104
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-104. Control of deposit account

§ 9-104. Control of deposit account|(a) 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 account without further consent by the debtor; or (3) the secured party becomes the bank's customer with respect to the deposit account.   (b) A secured party that has satisfied subsection (a) of this section has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-105
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-105. Control of electronic chattel paper

§ 9-105. Control of electronic chattel paper|(a) 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) A system satisfies subsection (a) of this section 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 subdivisions (4), (5), and (6) of this subsection, 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2013, No. 157 (Adj. Sess.), § 1.)
9 V.S.A. § 9-106
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-106. Control of investment property

§ 9-106. Control of investment property|(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 8- 106 of this title.(b) 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) 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-107
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-107. Control of letter-of-credit right

§ 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 subsection 5- 114(c) of this title or otherwise applicable law or practice. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-108
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-108. Sufficiency of description in a security agreement

§ 9-108. Sufficiency of description in a security agreement|(a) Except as otherwise provided in subsections (c), (d), and (e) of this section, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.(b) Except as otherwise provided in subsection (d) of this section, 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) of this section, a type of collateral defined in this title; (4) quantity; (5) computational or allocational formula or procedure; or (6) except as otherwise provided in subsection (c) of this section, any other method, if the identity of the collateral is objectively determinable.   (c) 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) Except as otherwise provided in subsection (e) of this section, 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) A description only by type of collateral defined in this title 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-110
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-110. Security interests arising under Article 2 or 2a

§ 9-110. Security interests arising under Article 2 or 2a|A security interest arising under section 2- 401, or 2- 505, or subsection 2- 711(3) or 2A- 508(5) of this title is subject to this article. However, until the debtor obtains possession of the goods:  (1) the security interest is enforceable, even if subdivision 9- 203(b)(3) of this title 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-201
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-201. General effectiveness of security agreement

§ 9-201. General effectiveness of security agreement|(a) Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.(b) 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 Vermont statute or regulation that regulates loans, credit sales, or other extensions of credit; and (ii) 9 V.S.A. chapter 63.(c) In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b) of this section, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) of this section has only the effect the statute or regulation specifies.(d) 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) of this section; or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-202
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-202. Title to collateral immaterial

§ 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-204
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-204. After-acquired property; future advances

§ 9-204. After-acquired property; future advances|(a) Except as otherwise provided in subsection (b) of this section, a security agreement may create or provide for a security interest in after-acquired collateral.(b) A security interest does not attach under a term constituting an after-acquired property clause to:  (1) consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within 10 days after the secured party gives value; or (2) a commercial tort claim.   (c) 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-205
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-205. Use or disposition of collateral permissible

§ 9-205. Use or disposition of collateral permissible|(a) 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) 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-206
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-206. Security interest arising in purchase or delivery of financial asset

§ 9-206. Security interest arising in purchase or delivery of financial asset|(a) 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) The security interest described in subsection (a) of this section secures the person's obligation to pay for the financial asset.(c) A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if:  (1) the security or other financial asset:  (A) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and (B) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and  (2) the agreement calls for delivery against payment.   (d) The security interest described in subsection (c) of this section secures the obligation to make payment for the delivery. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-207
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-207. Rights and duties of secured party having possession or control of collateral

§ 9-207. Rights and duties of secured party having possession or control of collateral|(a) Except as otherwise provided in subsection (d) of this section, a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed.(b) Except as otherwise provided in subsection (d) of this section, if a secured party has possession of collateral:  (1) reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral; (2) the risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage; (3) the secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and (4) the secured party may use or operate the collateral:  (A) for the purpose of preserving the collateral or its value; (B) as permitted by an order of a court having competent jurisdiction; or (C) except in the case of consumer goods, in the manner and to the extent agreed by the debtor.    (c) Except as otherwise provided in subsection (d) of this section, a secured party having possession of collateral or control of collateral under section 7- 106, 9- 104, 9- 105, 9- 106, or 9- 107 of this title:  (1) may hold as additional security any proceeds, except money or funds, received from the collateral; (2) shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and (3) may create a security interest in the collateral.   (d) If the secured party is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor:  (1) subsection (a) of this section does not apply unless the secured party is entitled under an agreement:  (A) to charge back uncollected collateral; or (B) otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and  (2) subsections (b) and (c) of this section do not apply. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2015, No. 51, § B.9, eff. June 3, 2015.)
9 V.S.A. § 9-209
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-209. Duties of secured party if account debtor has been notified of assignment

§ 9-209. Duties of secured party if account debtor has been notified of assignment|(a) Except as otherwise provided in subsection (c) of this section, this section applies if:  (1) there is no outstanding secured obligation; and (2) the secured party is not committed to make advances, incur obligations, or otherwise give value.   (b) Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under subsection 9- 406(a) of this title an authenticated record that releases the account debtor from any further obligation to the secured party.(c) This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
9 V.S.A. § 9-301
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-301. Law governing perfection and priority of security interests

§ 9-301. Law governing perfection and priority of security interests|Except as otherwise provided in sections 9- 303 through 9- 306 of this title, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:  (1) Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral. (2) While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral. (3) Except as otherwise provided in subdivision (4) of this section, while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:  (A) perfection of a security interest in the goods by filing a fixture filing; (B) perfection of a security interest in timber to be cut; and (C) the effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral.  (4) The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2015, No. 51, § B.9, eff. June 3, 2015.)
9 V.S.A. § 9-302
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 9 - Secured Transactions|§ 9-302. Law governing perfection and priority of agricultural liens

§ 9-302. Law governing perfection and priority of agricultural liens|While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)