reglab/housing_qa huggingface dataset:
IN Code § 26-1-9.1-315 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-315. Secured Party's Rights on Disposition of Collateral and in Proceeds

Sec. 315. (a) Except as otherwise provided in IC 26-1-9.1 and in IC 26-1-2-403(2):(1) 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(2) a security interest attaches to any identifiable proceeds of collateral.(b) Proceeds that are commingled with other property are identifiable proceeds:(1) if the proceeds are goods, to the extent provided by IC 26-1-9.1-336; and(2) 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 IC 26-1-9.1 with respect to commingled property of the type involved.(c) A security interest in proceeds is a perfected security interest if the security interest in the original collateral was perfected.(d) A perfected security interest in proceeds becomes unperfected on the twenty-first day after the security interest attaches to the proceeds unless:(1) the following conditions are satisfied:(A) A filed financing statement covers the original collateral.(B) 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.(C) The proceeds are not acquired with cash proceeds.(2) the proceeds are identifiable cash proceeds; or(3) the security interest in the proceeds is perfected other than under subsection (c) when the security interest attaches to the proceeds or within twenty (20) days thereafter.(e) If a filed financing statement covers the original collateral, a security interest in proceeds which remains perfected under subsection (d)(1) becomes unperfected at the later of:(1) when the effectiveness of the filed financing statement lapses under IC 26-1-9.1-515 or is terminated under IC 26-1-9.1-513; or(2) the twenty-first day after the security interest attaches to the proceeds.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-317 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-317. Interests That Take Priority Over or Take Free of Unperfected Security Interest or Agricultural Lien

Sec. 317. (a) A security interest or agricultural lien is subordinate to the rights of:(1) a person entitled to priority under IC 26-1-9.1-322; and(2) except as provided in subsection (e), a person that becomes a lien creditor before the earlier of the time:(A) the security interest or agricultural lien is perfected; or(B) one (1) of the conditions specified in IC 26-1-9.1-203(b)(3) is met;and a financing statement covering the collateral is filed.(b) Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible 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.(c) Except as otherwise provided in subsection (e), 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.(d) 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.(e) Except as otherwise provided in IC 26-1-9.1-320 and IC 26-1-9.1-321, if a person files a financing statement with respect to a purchase-money security interest before or within twenty (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.As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.6; P.L.143-2007, SEC.74; P.L.54-2011, SEC.8.
IN Code § 26-1-9.1-318 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-318. 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

Sec. 318. (a) 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.(b) 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 is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-319 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-319. Rights and Title of Consignee With Respect to Creditors and Purchasers

Sec. 319. (a) Except as otherwise provided in subsection (b), 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.(b) For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignee's possession if, under IC 26-1-9.1-301 through IC 26-1-9.1-342, a perfected security interest held by the consignor would have priority over the rights of the creditor.As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.7.
IN Code § 26-1-9.1-321 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-321. Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business

Sec. 321. (a) 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 the ordinary course 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.(b) A licensee in ordinary course of business takes its rights under a nonexclusive 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.(c) 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.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-323 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-323. Future Advances

Sec. 323. (a) Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under IC 26-1-9.1-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:(1) is made while the security interest is perfected only:(A) under IC 26-1-9.1-309 when it attaches; or(B) temporarily under IC 26-1-9.1-312(e), IC 26-1-9.1-312(f), or IC 26-1-9.1-312(g); and(2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under IC 26-1-9.1-309, IC 26-1-9.1-312(e), IC 26-1-9.1-312(f), or IC 26-1-9.1-312(g).(b) Except as otherwise provided in subsection (c), 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 forty-five (45) days after the person becomes a lien creditor unless the advance is made:(1) without knowledge of the lien; or(2) pursuant to a commitment entered into without knowledge of the lien.(c) Subsections (a) and (b) 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.(d) Except as otherwise provided in subsection (e), 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:(1) the time the secured party acquires knowledge of the buyer's purchase; or(2) forty-five (45) days after the purchase.(e) Subsection (d) 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 forty-five (45) day period.(f) Except as otherwise provided in subsection (g), 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:(1) the time the secured party acquires knowledge of the lease; or(2) forty-five (45) days after the lease contract becomes enforceable.(g) Subsection (f) 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 forty-five (45) day period.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-325 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-325. Priority of Security Interests in Transferred Collateral

Sec. 325. (a) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:(1) the debtor acquired the collateral subject to the security interest created by the other person;(2) the security interest created by the other person was perfected when the debtor acquired the collateral; and(3) there is no period thereafter when the security interest is unperfected.(b) Subsection (a) subordinates a security interest only if the security interest:(1) otherwise would have priority solely under IC 26-1-9.1-322(a) or IC 26-1-9.1-324; or(2) arose solely under IC 26-1-2-711(3) or IC 26-1-2.1-508(5).As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-326 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-326. Priority of Security Interests Created by New Debtor

Sec. 326. (a) Subject to subsection (b), 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 IC 26-1-9.1-316(i)(1) or IC 26-1-9.1-508 is subordinate to a security interest in the same collateral that is perfected by another method.(b) The other provisions of IC 26-1-9.1-301 through IC 26-1-9.1-342 determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (a). However, if the security agreements to which a new debtor became bound as a 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.As added by P.L.57-2000, SEC.45. Amended by P.L.54-2011, SEC.9.
IN Code § 26-1-9.1-327 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-327. Priority of Security Interests in Deposit Account

Sec. 327. 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 IC 26-1-9.1-104 has priority over a conflicting security interest held by a secured party that does not have control.(2) Except as otherwise provided in subdivisions (3) and (4), security interests perfected by control under IC 26-1-9.1-314 rank according to priority in time of obtaining control.(3) Except as otherwise provided in subdivision (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 IC 26-1-9.1-104(a)(3) has priority over a security interest held by the bank with which the deposit account is maintained.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-328 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-328. Priority of Security Interests in Investment Property

Sec. 328. 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 IC 26-1-9.1-106 has priority over a security interest held by a secured party that does not have control of the investment property.(2) Except as otherwise provided in subdivisions (3) and (4), conflicting security interests held by secured parties each of which has control under IC 26-1-9.1-106 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 IC 26-1-8.1-106(d)(1), the secured party's becoming the person for which the securities account is maintained;(ii) if the secured party obtained control under IC 26-1-8.1-106(d)(2), 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 IC 26-1-8.1-106(d)(3), the time on which priority would be based under this subdivision 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 IC 26-1-9.1-106(b)(2) 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 which is perfected by taking delivery under IC 26-1-9.1-313(a) and not by control under IC 26-1-9.1-314 has priority over a conflicting security interest perfected by a method other than control.(6) Conflicting security interests created by a broker, securities intermediary, or commodity intermediary, which are perfected without control under IC 26-1-9.1-106 rank equally.(7) In all other cases, priority among conflicting security interests in investment property is governed by IC 26-1-9.1-322 and IC 26-1-9.1-323.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-329 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-329. Priority of Security Interests in Letter-of-Credit Rights

Sec. 329. The following rules govern priority among conflicting security interests in the same letter-of-credit right:(1) A security interest held by a secured party having control of the letter-of-credit right under IC 26-1-9.1-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.(2) Security interests perfected by control under IC 26-1-9.1-314 rank according to priority in time of obtaining control.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-330 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-330. Priority of Purchases of Chattel Paper or Instrument

Sec. 330. (a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a security interest if:(1) in good faith and in the ordinary course of the purchaser's business, the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under IC 26-1-9.1-105; and(2) the chattel paper does not indicate that it has been assigned to an identified assignee other than the purchaser.(b) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed other than merely as proceeds of inventory subject to a security interest if the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under IC 26-1-9.1-105 in good faith, in the ordinary course of the purchaser's business, and without knowledge that the purchase violates the rights of the secured party.(c) Except as otherwise provided in IC 26-1-9.1-327, a purchaser having priority in chattel paper under subsection (a) or (b) also has priority in proceeds of the chattel paper to the extent that:(1) IC 26-1-9.1-322 provides for priority in the proceeds; or(2) the proceeds consist of the specific goods covered by the chattel paper or cash proceeds of the specific goods, even if the purchaser's security interest in the proceeds is unperfected.(d) Except as otherwise provided in IC 26-1-9.1-331(a), a purchaser of an instrument has priority over a security interest in the instrument perfected by a method other than possession if the purchaser gives value and takes possession of the instrument in good faith and without knowledge that the purchase violates the rights of the secured party.(e) For purposes of subsections (a) and (b), the holder of a purchase-money security interest in inventory gives new value for chattel paper constituting proceeds of the inventory.(f) For purposes of subsections (b) and (d), if chattel paper or an instrument indicates that it has been assigned to an identified secured party other than the purchaser, a purchaser of the chattel paper or instrument has knowledge that the purchase violates the rights of the secured party.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-331 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-331. Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Chapters; Priority of Interests in Financial Assets and Security Entitlements Under Ic 26-1-8.1

Sec. 331. (a) This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in IC 26-1-3.1, IC 26-1-7, and IC 26-1-8.1.(b) This article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of an adverse claim under IC 26-1-8.1.(c) Filing under IC 26-1-9.1 does not constitute notice of a claim or defense to the holders, purchasers, or persons described in subsections (a) and (b).As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-332 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-332. Transfer of Money; Transfer of Funds From Deposit Account

Sec. 332. (a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party.(b) A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-333 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-333. Priority of Certain Liens Arising by Operation of Law

Sec. 333. (a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:(1) that secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;(2) that is created by statute or rule of law in favor of the person; and(3) whose effectiveness depends on the person's possession of the goods.(b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-335 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-335. Accessions

Sec. 335. (a) A security interest may be created in an accession and continues in collateral that becomes an accession.(b) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral.(c) Except as otherwise provided in subsection (d), the other provisions of IC 26-1-9.1-301 through IC 26-1-9.1-342 determine the priority of a security interest in an accession.(d) A security interest in an accession is subordinate to a security interest in the whole which is perfected by compliance with the requirements of a certificate-of-title statute under IC 26-1-9.1-311(b).(e) After default, subject to IC 26-1-9.1-601 through IC 26-1-9.1-628, a secured party may remove an accession from other goods if the security interest in the accession has priority over the claims of every person having an interest in the whole.(f) A secured party that removes an accession from other goods under subsection (e) shall promptly reimburse any holder of a security interest or other lien on, or owner, of the whole or the other goods, other than the debtor, for the cost of repair of any physical injury to the whole or the other goods. The secured party need not reimburse the holder or owner for any diminution in value of the whole or the other goods caused by the absence of the accession removed or by any necessity for replacing it. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.9.