reglab/housing_qa huggingface dataset:
6 DE Code § 8-509. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 8. Investment Securities|Part 5. Security Entitlements|§ 8-509. Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder.

§ 8-509. Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder. (a) If the substance of a duty imposed upon a securities intermediary by Sections 8-504 through 8-508 is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty. (b) To the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rights in a commercially reasonable manner. (c) The obligation of a securities intermediary to perform the duties imposed by Sections 8-504 through 8-508 is subject to:  (1) rights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and (2) rights of the securities intermediary under other law, regulation, rule, or agreement to withhold performance of its duties as a result of unfulfilled obligations of the entitlement holder to the securities intermediary. (d) Sections 8-504 through 8-508 do not require a securities intermediary to take any action that is prohibited by other statute, regulation, or rule. 71 Del. Laws, c. 75, §  1;
6 DE Code § 8-510. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 8. Investment Securities|Part 5. Security Entitlements|§ 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 or the rules stated in subsection (c), an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who purchases a security entitlement, or an interest therein, from an entitlement holder if the purchaser gives value, does not have notice of the adverse claim, and obtains control. (b) If an adverse claim could not have been asserted against an entitlement holder under Section 8-502, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder. (c) In a case not covered by the priority rules in Article 9, a purchaser for value of a security entitlement, or an interest therein, who obtains control has priority over a purchaser of a security entitlement, or an interest therein, who does not obtain control. Except as otherwise provided in subsection (d), purchasers who have control rank according to priority in time of:  (1) the purchaser's becoming the person for whom the securities account, in which the security entitlement is carried, is maintained, if the purchaser obtained control under Section 8-106(d)(1); (2) the securities intermediary's agreement to comply with the purchaser's entitlement orders with respect to security entitlements carried or to be carried in the securities account in which the security entitlement is carried, if the purchaser obtained control under Section 8-106(d)(2); or (3) if the purchaser obtained control through another person under Section 8-106(d)(3), the time on which priority would be based under this subsection if the other person were the secured party. (d) A securities intermediary as purchaser has priority over a conflicting purchaser who has control unless otherwise agreed by the securities intermediary. 71 Del. Laws, c. 75, §  1;  72 Del. Laws, c. 401, §  24;
6 DE Code § 8-511. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 8. Investment Securities|Part 5. Security Entitlements|§ 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), 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. 71 Del. Laws, c. 75, §  1;
6 DE Code § 8-601. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 8. Investment Securities|Part 6. Transition Provisions|§ 8-601. Effective date.

§ 8-601. Effective date. This Act takes effect on January 1, 1998. 71 Del. Laws, c. 75, §  1;
6 DE Code § 8-602. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 8. Investment Securities|Part 6. Transition Provisions|§ 8-602. Savings clause.

§ 8-602. Savings clause. (a) This Act does not affect an action or proceeding commenced before this Act takes effect. (b) If a security interest in a security is perfected at the date this Act takes effect, and the action by which the security interest was perfected would suffice to perfect a security interest under this Act, no further action is required to continue perfection. Except to the extent otherwise provided or permitted by subsection (d) hereof, if a security interest in a security is perfected at the date this Act takes effect but the action by which the security interest was perfected would not suffice to perfect a security interest under this Act, the security interest remains perfected for a period of one year after the effective date and continues perfected thereafter if appropriate action to perfect under this Act or otherwise under the Uniform Commercial Code is taken within that period. If a security interest is perfected at the date this Act takes effect and the security interest can be perfected by filing under this Act, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect. (c) Prior to the effective date of this Act, uncertificated interests in general and limited partnerships were not deemed to be securities subject to Article 8 of the Uniform Commercial Code. Security interests with respect to uncertificated interests in general and limited partnerships that are perfected when this Act becomes effective shall remain perfected until they lapse as provided in Article 9 of the Uniform Commercial Code and may be continued as permitted by Article 9 of the Uniform Commercial Code. For such uncertificated interests in general and limited partnerships, Article 9 of the Uniform Commercial Code in effect immediately prior to the effective date of this Act shall apply to any questions of priority if the positions of the parties were fixed prior to the effective date of this Act. (d) If a security interest is perfected with respect to certificated securities under Article 8 of the Uniform Commercial Code prior to the effective date of this Act, and if the filing of a financing statement would be required for the perfection of the security interest after the effective date of this Act, the security interest remains perfected for a period of three years after the effective date of this Act and continues perfected thereafter if appropriate action to perfect under this Act or otherwise under the Uniform Commercial Code is taken within that period. 71 Del. Laws, c. 75, §  1;
6 DE Code § 9-101. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 9-101. Short title.

§ 9-101. Short title. This Article may be cited as Uniform Commercial Code — Secured Transactions. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-104. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 9-104. Control of deposit account.

§ 9-104. Control of deposit account. (a) Requirements for control. — A secured party has control of a deposit account if:  (1) the secured party is the bank with which the deposit account is maintained; (2) the debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the account without further consent by the debtor; (3) the secured party becomes the bank's customer with respect to the deposit account; (4) the debtor, secured party, and bank have authenticated a record that (i) is conspicuously denominated a control agreement, (ii) identifies the specific deposit account in which the secured party claims a security interest, and (iii) contains one or more provisions addressing the disposition of funds in the deposit account or the right to direct the disposition of funds in the deposit account; or (5) the name on the deposit account is the name of the secured party or indicates that the secured party has a security interest in the deposit account. (b) Debtor's right to direct disposition. — A secured party that has satisfied subsection (a) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. (c) No implied duties of bank. — The authentication of a record by the bank under subsection (a)(2) or (a)(4) does not impose upon the bank any duty not expressly agreed to by the bank in the record. The naming of the deposit account in the name of the secured party or with an indication that the secured party has a security interest in the deposit account under subsection (a)(5) does not impose upon the bank any duty not expressly agreed to by the bank. (d) Conditions not relevant. — A secured party has control under subsection (a)(2) even if any duty of the bank to comply with instructions originated by the secured party directing disposition of the funds in the deposit account is subject to any condition or conditions (other than further consent by the debtor). A secured party has control under subsection (a)(4) even if the provision or provisions addressing the disposition of funds in the deposit account or the right to direct the disposition of funds in the deposit account are subject to any condition or conditions (other than further consent by the debtor). (e) No inferences. — The procedures and requirements of subsections (a)(4) and (a)(5) available to obtain control shall not be used in interpreting the sufficiency of a secured party's compliance with the procedures and requirements of subsections (a)(1), (a)(2) or (a)(3) to obtain control. The provisions of subsections (a)(4) and (a)(5) shall create no inference regarding the requirements for compliance with subsection (a)(1), (a)(2) or (a)(3). 72 Del. Laws, c. 401, §  1;  76 Del. Laws, c. 92, §§  1, 2;
6 DE Code § 9-105. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 9-105. Control of electronic chattel paper.

§ 9-105. Control of electronic chattel paper. (a) General rule: control of electronic chattel paper. — A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned. (b) Specific facts giving control. — A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:  (1) a single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable; (2) the authoritative copy identifies the secured party as the assignee of the record or records; (3) the authoritative copy is communicated to and maintained by the secured party or its designated custodian; (4) copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party; (5) each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and (6) any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.72 Del. Laws, c. 401, §  1;  79 Del. Laws, c. 15, §  5;
6 DE Code § 9-106. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 9-106. Control of investment property.

§ 9-106. Control of investment property. (a) Control under Section 8-106. — A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8-106. (b) Control of commodity contract. — A secured party has control of a commodity contract if:  (1) the secured party is the commodity intermediary with which the commodity contract is carried; or (2) the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer. (c) Effect of control of securities account or commodity account. — A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account. (d) Control of securities account. — A secured party has control of a securities account if the name on the securities account is the name of the secured party or indicates that the secured party has a security interest in the securities account. (e) No implied duties of securities intermediary. — The naming of the securities account in the name of the secured party or with an indication that the secured party has a security interest in the securities account under subsection (d) does not impose upon the securities intermediary any duty not expressly agreed to by the securities intermediary. 72 Del. Laws, c. 401, §  1;  76 Del. Laws, c. 92, §  3;
6 DE Code § 9-107. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 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 Section 5-114(c) or otherwise applicable law or practice. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-108. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 9-108. Sufficiency of description.

§ 9-108. Sufficiency of description. (a) Sufficiency of description. — Except as otherwise provided in subsections (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described. (b) Examples of reasonable identification. — Except as otherwise provided in subsection (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by:  (1) specific listing; (2) category; (3) except as otherwise provided in subsection (e), a type of collateral defined in the Uniform Commercial Code; (4) quantity; (5) computational or allocational formula or procedure; or (6) except as otherwise provided in subsection (c), any other method, if the identity of the collateral is objectively determinable. (c) Supergeneric description not sufficient. — A description of collateral as “all the debtor's assets” or “all the debtor's personal property” or using words of similar import does not reasonably identify the collateral. (d) Investment property. — Except as otherwise provided in subsection (e), a description of a security entitlement, securities account, or commodity account is sufficient if it describes:  (1) the collateral by those terms or as investment property; or (2) the underlying financial asset or commodity contract. (e) When description by type insufficient. — A description only by type of collateral defined in the Uniform Commercial Code is an insufficient description of:  (1) a commercial tort claim; or (2) in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.72 Del. Laws, c. 401, §  1;
6 DE Code § 9-110. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 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, 2-505, 2-711(3), or 2A-508(5) is subject to this Article. However, until the debtor obtains possession of the goods:  (1) the security interest is enforceable, even if Section 9-203(b)(3) has not been satisfied; (2) filing is not required to perfect the security interest; (3) the rights of the secured party after default by the debtor are governed by Article 2 or 2A; and (4) the security interest has priority over a conflicting security interest created by the debtor.72 Del. Laws, c. 401, §  1;
6 DE Code § 9-111. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 1. General Provisions|§ 9-111. Law governing creation, attachment and enforcement of security interests; characterizations; and certain other rights.

§ 9-111. Law governing creation, attachment and enforcement of security interests; characterizations; and certain other rights. (a) Law governing classification of collateral and creation, attachment and enforcement of security interests. — If a security agreement is governed by the Laws of the State of Delaware, then those Laws shall govern, among other things:  (1) The classification of the collateral subject to that agreement; and (2) The creation, attachment, validity and enforcement of the security interest. (b) Law governing characterization of certain transactions. — If an agreement is governed by the Laws of the State of Delaware, then those Laws shall govern, among other things:  (1) The characterization of a transaction subject to that agreement as (A) an interest in personal property or fixtures that secures payment or performance of an obligation, or (B) a sale, lease, bailment or consignment; and (2) The characterization of a transaction subject to that agreement as a securitization transaction for purposes of Chapter 27A of this title.75 Del. Laws, c. 66, §  1;
6 DE Code § 9-201. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|§ 9-201. General effectiveness of security agreement.

§ 9-201. General effectiveness of security agreement. (a) General effectiveness. — Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. — A transaction subject to this Article is subject to any applicable rule of law which establishes a different rule for consumers, to any other statute or regulation of this State that regulates the rates, charges, agreements and practices for loans, credit sales, or other extensions of credit, and to any consumer-protection statute or regulation of this State. (c) Other applicable law controls. — In case of conflict between this Article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies. (d) Further deference to other applicable law. — This Article does not:  (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.72 Del. Laws, c. 401, §  1;
6 DE Code § 9-202. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|§ 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. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-204. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|§ 9-204. After-acquired property; future advances.

§ 9-204. After-acquired property; future advances. (a) After-acquired collateral. — Except as otherwise provided in subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral. (b) When after-acquired property clause not effective. — A security interest does not attach under a term constituting an after-acquired property clause to:  (1) consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within 10 days after the secured party gives value; or (2) a commercial tort claim. (c) Future advances and other value. — A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment. 72 Del. Laws, c. 401, §  1;