reglab/housing_qa huggingface dataset:
IN Code § 26-1-9.1-336 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-336. Commingled Goods

Sec. 336. (a) As used in this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass.(b) A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass that results when goods become commingled goods.(c) If collateral becomes commingled goods, a security interest attaches to the product or mass.(d) If a security interest in collateral is perfected before the collateral becomes commingled goods, the security interest that attaches to the product or mass under subsection (c) is perfected.(e) Except as otherwise provided in subsection (f), the other provisions of IC 26-1-9.1-301 through IC 26-1-9.1-342 determine the priority of a security interest that attaches to the product or mass under subsection (c).(f) If more than one (1) security interest attaches to the product or mass under subsection (c), the following rules determine priority:(1) A security interest that is perfected under subsection (d) has priority over a security interest that is unperfected at the time the collateral becomes commingled goods.(2) If more than one (1) security interest is perfected under subsection (d), the security interests rank equally in proportion to value of the collateral at the time it became commingled goods.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-337 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-337. Priority of Security Interests in Goods Covered by Certificate of Title

Sec. 337. If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate:(1) a buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and(2) the security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under IC 26-1-9.1-311(b), after issuance of the certificate and without the conflicting secured party's knowledge of the security interest.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-338 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-338. Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information

Sec. 338. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in IC 26-1-9.1-516(b)(5) that is incorrect at the time the financing statement is filed:(1) the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and(2) a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.As added by P.L.57-2000, SEC.45. Amended by P.L.143-2007, SEC.75.
IN Code § 26-1-9.1-339 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-339. Priority Subject to Subordination

Sec. 339. IC 26-1-9.1 does not preclude subordination by agreement by a person entitled to priority.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-340 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-340. Effectiveness of Right of Recoupment or Setoff Against Deposit Account

Sec. 340. (a) Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account.(b) Except as otherwise provided in subsection (c), the application of IC 26-1-9.1 to a security interest in a deposit account does not affect a right of recoupment or set-off of the secured party as to a deposit account maintained with the secured party.(c) The exercise by a bank of a set-off against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under IC 26-1-9.1-104(a)(3), if the set-off is based on a claim against the debtor.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-341 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-341. Bank's Rights and Duties With Respect to Deposit Account

Sec. 341. Except as otherwise provided in IC 26-1-9.1-340(c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:(1) the creation, attachment, or perfection of a security interest in the deposit account;(2) the bank's knowledge of the security interest; or(3) the bank's receipt of instructions from the secured party.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-342 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-342. Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement

Sec. 342. IC 26-1-9.1 does not require a bank to enter into an agreement of the kind described in IC 26-1-9.1-104(a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-401 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-401. Alienability of Debtor's Rights

Sec. 401. (a) Except as otherwise provided in subsection (b) and IC 26-1-9.1-406, IC 26-1-9.1-407, IC 26-1-9.1-408, and IC 26-1-9.1-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than IC 26-1-9.1.(b) An agreement between the debtor and secured party that prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-402 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-402. Secured Party Not Obligated on Contract of Debtor or in Tort

Sec. 402. The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-403 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-403. Agreement Not to Assert Defenses Against Assignee

Sec. 403. (a) As used in this section, "value" has the meaning provided in IC 26-1-3-303(a).(b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment:(1) for value;(2) in good faith;(3) without notice of a claim of a property or possessory right to the property assigned; and(4) without notice of a defense or claim in recoupment of the type that may be asserted against a person entitled to enforce a negotiable instrument under IC 26-1-3.1-305(a).(c) Subsection (b) does not apply to defenses of a type that may be asserted against a holder in due course of a negotiable instrument under IC 26-1-3.1-305(b).(d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than IC 26-1-9.1 requires that the record include a statement to the effect that the rights of an assignee are subject to claims or defenses that the account debtor could assert against the original obligee, and the record does not include such a statement:(1) the record has the same effect as if the record included such a statement; and(2) the account debtor may assert against an assignee those claims and defenses that would have been available if the record included such a statement.(e) This section is subject to law other than IC 26-1-9.1 that establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.(f) Except as otherwise provided in subsection (d), this section does not displace law other than IC 26-1-9.1 which gives effect to an agreement by an account debtor not to assert a claim or defense against an assignee.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-404 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-404. Rights Acquired by Assignee; Claims and Defenses Against Assignee

Sec. 404. (a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to:(1) all terms of the agreement between the account debtor and assignor and any defense or claim in recoupment arising from the transaction that gave rise to the contract; and(2) any other defense or claim of the account debtor against the assignor which accrues before the account debtor receives a notification of the assignment authenticated by the assignor or the assignee.(b) Subject to subsection (c) and except as otherwise provided in subsection (d), the claim of an account debtor against an assignor may be asserted against an assignee under subsection (a) only to reduce the amount the account debtor owes.(c) This section is subject to law other than IC 26-1-9.1 that establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.(d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than IC 26-1-9.1 requires that the record include a statement to the effect that the account debtor's recovery against an assignee with respect to claims and defenses against the assignor may not exceed amounts paid by the account debtor under the record, and the record does not include such a statement, the extent to which a claim of an account debtor against the assignor may be asserted against an assignee is determined as if the record included such a statement.(e) This section does not apply to an assignment of a health-care-insurance receivable.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-405 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-405. Modification of Assigned Contract

Sec. 405. (a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to subsections (b) through (d).(b) Subsection (a) applies to the extent that:(1) the right to payment or a part thereof under an assigned contract has not been fully earned by performance; or(2) the right to payment or a part thereof has been fully earned by performance and the account debtor has not received notification of the assignment under IC 26-1-9.1-406(a).(c) This section is subject to law other than IC 26-1-9.1 that establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.(d) This section does not apply to an assignment of a health-care-insurance receivable.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-407 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-407. Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest

Sec. 407. (a) Except as otherwise provided in subsection (b), a term in a lease agreement is ineffective to the extent that it:(1) prohibits, restricts, or requires the consent of a party to the lease to the assignment, transfer, creation, attachment, perfection, or enforcement of a security interest in an interest of a party under the lease contract or in the lessor's residual interest in the goods; or(2) provides that the assignment, transfer, creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the lease.(b) Except as otherwise provided in IC 26-1-2.1-303(7), a term described in subsection (a)(2) is effective to the extent that there is:(1) a transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term; or(2) a delegation of a material performance of either party to the lease contract in violation of the term.(c) The creation, attachment, perfection, or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of IC 26-1-2.1-303(4) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-409 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-409. Restrictions on Assignment of Letter-of-Credit Rights Ineffective

Sec. 409. (a) A term in a letter-of-credit or a rule of law, statute, regulation, custom, or practice applicable to the letter-of-credit that prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom, or practice:(1) would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right; or(2) provides that the assignment, transfer, creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the letter-of-credit right.(b) To the extent that a term in a letter-of-credit is ineffective under subsection (a) but would be effective under law other than IC 26-1-9.1 or a custom or practice applicable to the letter-of-credit, to the transfer of a right to draw or otherwise demand performance under the letter-of-credit, or to the assignment of a right to proceeds of the letter-of-credit, the creation, attachment, or perfection of a security interest in the letter-of-credit right:(1) is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;(2) imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary; and(3) does not require the applicant, issuer, nominated person, or transferee beneficiary to recognize the security interest, pay or render performance to the secured party, or accept payment or other performance from the secured party.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-504 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-504. Indication of Collateral

Sec. 504. A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:(1) a description of the collateral pursuant to IC 26-1-9.1-108; or(2) an indication that the financing statement covers all assets or all personal property.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-505 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-505. Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions

Sec. 505. (a) A consignor, lessor, or other bailor of goods or a buyer of a payment intangible or a promissory note may file a financing statement, or may comply with a statute or treaty described in IC 26-1-9.1-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".(b) IC 26-1-9.1-501 through IC 26-1-9.1-527 apply to the filing of a financing statement under subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under IC 26-1-9.1-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-506 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-506. Effect of Errors or Omissions

Sec. 506. (a) A financing statement substantially satisfying the requirements of IC 26-1-9.1-501 through IC 26-1-9.1-527 is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.(b) Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with IC 26-1-9.1-503(a) is seriously misleading.(c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails to sufficiently provide the name of the debtor in accordance with IC 26-1-9.1-503(a), the name provided does not make the financing statement seriously misleading.(d) For purposes of IC 26-1-9.1-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.13.
IN Code § 26-1-9.1-507 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-507. Effect of Certain Events on Effectiveness of Financing Statement

Sec. 507. (a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.(b) Except as otherwise provided in subsection (c) and IC 26-1-9.1-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under IC 26-1-9.1-506.(c) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under IC 26-1-9.1-503(a) so that the financing statement becomes seriously misleading under IC 26-1-9.1-506:(1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four (4) months after, the filed financing statement becomes seriously misleading; and(2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four (4) months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months (4) after the financing statement became seriously misleading.As added by P.L.57-2000, SEC.45. Amended by P.L.54-2011, SEC.14.
IN Code § 26-1-9.1-508 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-508. Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement

Sec. 508. (a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.(b) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (a) to be seriously misleading under IC 26-1-9.1-506:(1) the financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four (4) months after, the new debtor becomes bound under IC 26-1-9.1-203(d); and(2) the financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four (4) months after the new debtor becomes bound under IC 26-1-9.1-203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.(c) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under IC 26-1-9.1-507(a).As added by P.L.57-2000, SEC.45.