reglab/housing_qa huggingface dataset:
OR Rev Stat § 79.0201 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0201 - UCC 9-201. General effectiveness of security agreement.

(1) 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. (2) A transaction subject to this chapter is subject to any applicable rule of law which establishes a different rule for consumers and is also subject to ORS 83.510 to 83.680 on retail installment contracts and ORS chapter 725 on small loans. (3) In case of conflict between this chapter and a rule of law, statute or rule described in subsection (2) of this section, the rule of law, statute or rule controls. Failure to comply with a statute or rule described in subsection (2) of this section has only the effect the statute or rule specifies. (4) This chapter does not: (a) Validate any rate, charge, agreement or practice that violates a rule of law, statute or regulation described in subsection (2) of this section; or (b) Extend the application of the rule of law, statute, or rule to a transaction not otherwise subject to it. [2001 c.445 §11]
OR Rev Stat § 79.0202 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0202 - UCC 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 chapter with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. [2001 c.445 §12]
OR Rev Stat § 79.0204 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0204 - UCC 9-204. After-acquired property; future advances.

(1) Except as otherwise provided in subsection (2) of this section, a security agreement may create or provide for a security interest in after-acquired collateral. (2) 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 10 days after the secured party gives value; or (b) A commercial tort claim. (3) 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. [2001 c.445 §14]
OR Rev Stat § 79.0205 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0205 - UCC 9-205. Use or disposition of collateral permissible.

(1) A security interest is not invalid or fraudulent against creditors solely because: (a) 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 (b) The secured party fails to require the debtor to account for proceeds or replace collateral. (2) 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. [2001 c.445 §15]
OR Rev Stat § 79.0206 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0206 - UCC 9-206. Security interest arising in purchase or delivery of financial asset.

(1) 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) The security interest described in subsection (1) of this section secures the person’s obligation to pay for the financial asset. (3) 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: (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 (b) The agreement calls for delivery against payment. (4) The security interest described in subsection (3) of this section secures the obligation to make payment for the delivery. [2001 c.445 §16]
OR Rev Stat § 79.0207 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0207 - UCC 9-207. Rights and duties of secured party having possession or control of collateral.

(1) Except as otherwise provided in subsection (4) 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. (2) Except as otherwise provided in subsection (4) of this section, 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: (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. (3) Except as otherwise provided in subsection (4) of this section, a secured party having possession of collateral or control of collateral under ORS 77.1060, 79.0104, 79.0105, 79.0106 or 79.0107: (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) If the secured party is a buyer of accounts, chattel paper, payment intangibles or promissory notes or a consignor: (a) Subsection (1) 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 (b) Subsections (2) and (3) of this section do not apply. [2001 c.445 §17; 2009 c.181 §93]
OR Rev Stat § 79.0209 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0209 - UCC 9-209. Duties of secured party if account debtor has been notified of assignment.

(1) Except as otherwise provided in subsection (3) of this section, 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) 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 ORS 79.0406 (1) an authenticated record that releases the account debtor from any further obligation to the secured party. (3) This section does not apply to an assignment constituting the sale of an account, chattel paper or payment intangible. [2001 c.445 §19]
OR Rev Stat § 79.0301 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0301 - UCC 9-301. Law governing perfection and priority of security interests.

Except as otherwise provided in ORS 79.0303 to 79.0306, 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 subsection (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. [2001 c.445 §21; 2009 c.181 §95]
OR Rev Stat § 79.0302 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0302 - UCC 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. [2001 c.445 §22]
OR Rev Stat § 79.0303 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0303 - UCC 9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title.

(1) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor. (2) Goods become covered by a certificate of title when a valid application for the certificate of title and the applicable fee are delivered to the appropriate authority. Goods cease to be covered by a certificate of title at the earlier of the time the certificate of title ceases to be effective under the law of the issuing jurisdiction or the time the goods become covered subsequently by a certificate of title issued by another jurisdiction. (3) The local law of the jurisdiction under whose certificate of title the goods are covered governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in goods covered by a certificate of title from the time the goods become covered by the certificate of title until the goods cease to be covered by the certificate of title. [2001 c.445 §23]
OR Rev Stat § 79.0304 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0304 - UCC 9-304. Law governing perfection and priority of security interests in deposit accounts.

(1) The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a security interest in a deposit account maintained with that bank. (2) The following rules determine a bank’s jurisdiction for purposes of ORS 79.0301 to 79.0342: (a) If an agreement between the bank and the debtor governing the deposit account expressly provides that a particular jurisdiction is the bank’s jurisdiction for purposes of ORS 79.0301 to 79.0342, this chapter or the Uniform Commercial Code, that jurisdiction is the bank’s jurisdiction. (b) If paragraph (a) of this subsection does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank’s jurisdiction. (c) If neither paragraph (a) nor paragraph (b) of this subsection applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank’s jurisdiction. (d) If paragraphs (a) to (c) of this subsection do not apply, the bank’s jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer’s account is located. (e) If paragraphs (a) to (d) of this subsection do not apply, the bank’s jurisdiction is the jurisdiction in which the chief executive office of the bank is located. [2001 c.445 §24]
OR Rev Stat § 79.0306 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0306 - UCC 9-306. Law governing perfection and priority of security interests in letter-of-credit rights.

(1) Subject to subsection (3) of this section, the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a security interest in a letter-of-credit right if the issuer’s jurisdiction or nominated person’s jurisdiction is a state. (2) For purposes of ORS 79.0301 to 79.0342, an issuer’s jurisdiction or nominated person’s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in ORS 75.1160. (3) This section does not apply to a security interest that is perfected only under ORS 79.0308 (4). [2001 c.445 §26]
OR Rev Stat § 79.0308 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0308 - UCC 9-308. When security interest or agricultural lien is perfected; continuity of perfection.

(1) Except as otherwise provided in this section and ORS 79.0309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in ORS 79.0310 to 79.0316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before the security interest attaches. (2) An agricultural lien is perfected if it has become effective and all of the applicable requirements for perfection in ORS 79.0310 have been satisfied. An agricultural lien is perfected when it becomes effective if the applicable requirements are satisfied before the agricultural lien becomes effective. (3) A security interest or agricultural lien is perfected continuously if it is originally perfected by one method under this chapter and is later perfected by another method under this chapter, without an intermediate period when it was unperfected. (4) Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral. (5) Perfection of a security interest in a right to payment or performance also perfects a security interest in a security interest, mortgage or other lien on personal or real property securing the right. (6) Perfection of a security interest in a securities account also perfects a security interest in the security entitlements carried in the securities account. (7) Perfection of a security interest in a commodity account also perfects a security interest in the commodity contracts carried in the commodity account. [2001 c.445 §28]
OR Rev Stat § 79.0309 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0309 - UCC 9-309. Security interest perfected upon attachment.

The following security interests are perfected when they attach: (1) A purchase-money security interest in consumer goods, except as otherwise provided in ORS 79.0311 (2) with respect to consumer goods that are subject to a statute or treaty described in ORS 79.0311 (1); (2) An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles; (3) A sale of a payment intangible; (4) A sale of a promissory note; (5) A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services; (6) A security interest arising under ORS 72.4010, 72.5050, 72.7110 (3), or 72A.5080 (5), until the debtor obtains possession of the collateral; (7) A security interest of a collecting bank arising under ORS 74.2100; (8) A security interest of an issuer or nominated person arising under ORS 75.1180; (9) A security interest arising in the delivery of a financial asset under ORS 79.0206 (3); (10) A security interest in investment property created by a broker or securities intermediary; (11) A security interest in a commodity contract or a commodity account created by a commodity intermediary; (12) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and (13) A security interest created by an assignment of a beneficial interest in a decedent’s estate. [2001 c.445 §29]
OR Rev Stat § 79.0310 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0310 - UCC 9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.

(1) Except as otherwise provided in subsection (2) of this section and ORS 79.0312 (2), a financing statement must be filed to perfect all security interests and agricultural liens. (2) The filing of a financing statement is not necessary to perfect a security interest: (a) That is perfected under ORS 79.0308 (4), (5), (6) or (7); (b) That is perfected under ORS 79.0309 when it attaches; (c) In property subject to a statute, regulation or treaty described in ORS 79.0311 (1); (d) In goods in possession of a bailee that are perfected under ORS 79.0312 (4)(a) or (b); (e) In certificated securities, documents, goods or instruments that are perfected without filing, control or possession under ORS 79.0312 (5), (6) or (7); (f) In collateral in the secured party’s possession under ORS 79.0313; (g) In a certificated security which is perfected by delivery of the security certificate to the secured party under ORS 79.0313; (h) In deposit accounts, electronic chattel paper, electronic documents, investment property or letter-of-credit rights that are perfected by control under ORS 79.0314; (i) In proceeds that are perfected under ORS 79.0315; or (j) That are perfected under ORS 79.0316. (3) If a secured party assigns a perfected security interest or agricultural lien, a filing under this chapter is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor. [2001 c.445 §30; 2009 c.181 §96]
OR Rev Stat § 79.0311 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0311 - UCC 9-311. Perfection of security interests in property subject to certain statutes, regulations and treaties.

(1) Except as otherwise provided in subsection (4) of this section, 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 ORS 79.0310 (1); (b) ORS chapter 830 and the Oregon Vehicle Code; (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; or (d) ORS 446.611 (1). (2) Compliance with the requirements of a statute, regulation or treaty described in subsection (1) of this section 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 subsection (4) of this section and ORS 79.0313, 79.0316 (4) and (5) and 79.0334 for goods covered by a certificate of title or for a manufactured structure, a security interest in property subject to a statute, regulation or treaty described in subsection (1) of this section 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 subsection (4) of this section and ORS 79.0316 (4) and (5), 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) of this section 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) or (d) of this section 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. [2001 c.445 §31; 2003 c.655 §50; 2012 c.12 §5]
OR Rev Stat § 79.0314 (2021)
2021 Oregon Revised Statutes|Volume : 02 - Business Organizations, Commercial Code|Chapter 079 - Secured Transactions|Section 79.0314 - UCC 9-314. Perfection by control.

(1) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper or electronic documents may be perfected by control of the collateral under ORS 77.1060, 79.0104, 79.0105, 79.0106 or 79.0107. (2) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights or electronic documents is perfected by control under ORS 77.1060, 79.0104, 79.0105 or 79.0107 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 ORS 79.0106 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: (A) If the collateral is a certificated security, the debtor has or acquires possession of the security certificate; (B) If the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or (C) If the collateral is a security entitlement, the debtor is or becomes the entitlement holder. [2001 c.445 §34; 2009 c.181 §99]