reglab/statecodes huggingface dataset:
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9207 - Rights and duties of secured party having possession or control of collateral

47-9207.
Rights and duties of secured party having possession or control of collateral
A. Except as otherwise provided in subsection D of this section,  a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument,  reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed.
B. Except as otherwise provided in subsection D of this section,  if a secured party has possession of collateral:
1. Reasonable expenses,  including the cost of insurance and payment of taxes or other charges,  incurred in the custody,  preservation,  use or operation of the collateral are chargeable to the debtor and are secured by the collateral;
2. The risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage;
3. The secured party shall keep the collateral identifiable,  but fungible collateral may be commingled;  and
4. The secured party may use or operate the collateral:
(a) For the purpose of preserving the collateral or its value;
(b) As permitted by an order of a court having competent jurisdiction;  or
(c) Except in the case of consumer goods,  in the manner and to the extent agreed by the debtor.
C. Except as otherwise provided in subsection D of this section,  a secured party having possession of collateral or control of collateral under section 47-7106,  47-9104,  47-9105,  47-9106 or 47-9107:
1. May hold as additional security any proceeds,  except money or funds,  received from the collateral;
2. Shall apply money or funds received from the collateral to reduce the secured obligation,  unless remitted to the debtor;  and
3. May create a security interest in the collateral.
D. If the secured party is a buyer of accounts,  chattel paper,  payment intangibles or promissory notes or a consignor:
1. Subsection A of this section does not apply unless the secured party is entitled under an agreement:
(a) To charge back uncollected collateral;  or
(b) Otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral;  and
2. Subsections B and C of this section do not apply.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9209 - Duties of secured party if account debtor has been notified of assignment

47-9209.
Duties of secured party if account debtor has been notified of assignment
A. Except as otherwise provided in subsection C of this section,  this section applies if:
1. There is no outstanding secured obligation;  and
2. The secured party is not committed to make advances,  incur obligations or otherwise give value.
B. Within ten 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 section 47-9406,  subsection A an authenticated record that releases the account debtor from any further obligation to the secured party.
C. This section does not apply to an assignment constituting the sale of an account,  chattel paper or payment intangible.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9301 - Law governing perfection and priority of security interests

47-9301.
Law governing perfection and priority of security interests
Except as otherwise provided in sections 47-9303 through 47-9306,  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 paragraph 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9303 - Law governing perfection and priority of security interests in goods covered by a certificate of title

47-9303.
Law governing perfection and priority of security interests in goods covered by a certificate of title
A. 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.
B. 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.
C. 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9304 - Law governing perfection and priority of security interests in deposit accounts

47-9304.
Law governing perfection and priority of security interests in deposit accounts
A. 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.
B. The following rules determine a bank's jurisdiction for purposes of this article:
1. 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 this article,  this chapter or this title,  that jurisdiction is the bank's jurisdiction.
2. If paragraph 1 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.
3. If neither paragraph 1 nor paragraph 2 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.
4. If none of the preceding paragraphs applies,  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.
5. If none of the preceding paragraphs applies,  the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9306 - Law governing perfection and priority of security interests in letter-of-credit rights

47-9306.
Law governing perfection and priority of security interests in letter-of-credit rights
A. Subject to subsection C 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.
B. For purposes of this article,  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 section 47-5116.
C. This section does not apply to a security interest that is perfected only under section 47-9308,  subsection D.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9307 - Location of debtor; definition

47-9307.
Location of debtor;  definition
A. In this section,  " place of business"  means a place where a debtor conducts its affairs.
B. Except as otherwise provided in this section,  the following rules determine a debtor's location:
1. A debtor who is an individual is located at the individual's principal residence.
2. A debtor that is an organization and has only one place of business is located at its place of business.
3. A debtor that is an organization and has more than one place of business is located at its chief executive office.
C. Subsection B applies only if a debtor's residence,  place of business or chief executive office,  as applicable,  is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing,  recording or registration system as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. If subsection B does not apply,  the debtor is located in the District of Columbia.
D. A person that ceases to exist,  have a residence,  or have a place of business continues to be located in the jurisdiction specified by subsections B and C.
E. A registered organization that is organized under the law of a state is located in that state.
F. Except as otherwise provided in subsection I,  a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located:
1. In the state that the law of the United States designates,  if the law designates a state of location;
2. In the state that the registered organization,  branch or agency designates,  if the law of the United States authorizes the registered organization,  branch or agency to designate its state of location,  including by designating its main office,  home office or other comparable office;  or
3. In the District of Columbia,  if neither paragraph 1 nor paragraph 2 of this subsection applies.
G. A registered organization continues to be located in the jurisdiction specified by subsection E or F notwithstanding:
1. The suspension,  revocation,  forfeiture or lapse of the registered organization's status as such in its jurisdiction of organization;  or
2. The dissolution,  winding up or cancellation of the existence of the registered organization.
H. The United States is located in the District of Columbia.
I. A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed,  if all branches and agencies of the bank are licensed in only one state.
J. A foreign air carrier under the federal aviation act of 1958,  as amended,  is located at the designated office of the agent on which service of process may be made on behalf of the carrier.
K. This section applies only for purposes of this article.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9308 - When security interest or agricultural lien is perfected; continuity of perfection

47-9308.
When security interest or agricultural lien is perfected;  continuity of perfection
A. Except as otherwise provided in this section and section 47-9309,  a security interest is perfected if it has attached and all of the applicable requirements for perfection in sections 47-9310 through 47-9316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before the security interest attaches.
B. An agricultural lien is perfected if it has become effective and all of the applicable requirements for perfection in section 47-9310 have been satisfied. An agricultural lien is perfected when it becomes effective if the applicable requirements are satisfied before the agricultural lien becomes effective.
C. 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.
D. Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral.
E. 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.
F. Perfection of a security interest in a securities account also perfects a security interest in the security entitlements carried in the securities account.
G. Perfection of a security interest in a commodity account also perfects a security interest in the commodity contracts carried in the commodity account.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9309 - Security interest perfected on attachment

47-9309.
Security interest perfected on attachment
The following security interests are perfected when they attach:
1. A purchase money security interest in consumer goods,  except as otherwise provided in section 47-9311,  subsection B with respect to consumer goods that are subject to a statute or treaty described in section 47-9311,  subsection A;
2. An assignment of accounts or payment intangibles that 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 section 47-2401,  section 47-2505,  section 47-2711,  subsection C or section 47-2A508,  subsection E,  until the debtor obtains possession of the collateral;
7. A security interest of a collecting bank arising under section 47-4210;
8. A security interest of an issuer or nominated person arising under section 47-5118;
9. A security interest arising in the delivery of a financial asset under section 47-9206,  subsection C;
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9310 - When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

47-9310.
When filing required to perfect security interest or agricultural lien;  security interests and agricultural liens to which filing provisions do not apply
A. Except as otherwise provided in subsection B of this section and section 47-9312,  subsection B,  a financing statement must be filed to perfect all security interests and agricultural liens.
B. The filing of a financing statement is not necessary to perfect a security interest:
1. That is perfected under section 47-9308,  subsection D,  E,  F or G;
2. That is perfected under section 47-9309 when it attaches;
3. In property subject to a statute,  regulation or treaty described in section 47-9311,  subsection A;
4. In goods in possession of a bailee that is perfected under section 47-9312,  subsection D,  paragraph 1 or 2;
5. In certificated securities,  documents,  goods or instruments that is perfected without filing,  control or possession under section 47-9312,  subsection E,  F or G;
6. In collateral in the secured party's possession under section 47-9313;
7. In a certificated security that is perfected by delivery of the security certificate to the secured party under section 47-9313;
8. In deposit accounts,  electronic chattel paper,  electronic documents,  investment property or letter-of-credit rights that is perfected by control under section 47-9314;
9. In proceeds that is perfected under section 47-9315;  or
10. That is perfected under section 47-9316.
C. 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9311 - Perfection of security interests in property subject to certain statutes, regulations and treaties

47-9311.
Perfection of security interests in property subject to certain statutes,  regulations and treaties
A. Except as otherwise provided in subsection D of this section,  the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to:
1. 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 section 47-9310,  subsection A;
2. A statute of this state that provides for central filing of or that requires indication on a certificate of title of a security interest in the property,  including title 28,  chapter 7,  article 4,  and that requires indication of the security interest on a certificate of title for a vehicle required to be issued a certificate of title and registered under section 28-2153 and for a mobile home required to be titled under section 28-2063;  or
3. 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.
B. Compliance with the requirements of a statute,  regulation or treaty described in subsection A 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 D of this section and section 47-9313 and section 47-9316,  subsections D and E for goods covered by a certificate of title,  a security interest in property subject to a statute,  regulation or treaty described in subsection A 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.
C. Except as otherwise provided in subsection D of this section and section 47-9316,  subsections D and E,  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 A of this section are governed by the statute,  regulation or treaty. In other respects,  the security interest is subject to this chapter.
D. During any period in which collateral subject to a statute specified in subsection A,  paragraph 2 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9314 - Perfection by control

47-9314.
Perfection by control
A. 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 section 47-7106,  47-9104,  47-9105,  47-9106 or 47-9107.
B. A security interest in deposit accounts,  electronic chattel paper,  letter-of-credit rights or electronic documents is perfected by control under section 47-7106,  47-9104,  47-9105 or 47-9107 when the secured party obtains control and remains perfected by control only while the secured party retains control.
C. A security interest in investment property is perfected by control under section 47-9106 from the time the secured party obtains control and remains perfected by control until:
1. The secured party does not have control;  and
2. 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9315 - Secured party's rights on disposition of collateral and in proceeds

47-9315.
Secured party's rights on disposition of collateral and in proceeds
A. Except as otherwise provided in this chapter and in section 47-2403,  subsection B:
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 section 47-9336;  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 this chapter 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;  and
(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 of this section when the security interest attaches to the proceeds or within twenty days thereafter.
E. If a filed financing statement covers the original collateral,  a security interest in proceeds that remains perfected under subsection D,  paragraph 1 of this section becomes unperfected at the later of:
1. When the effectiveness of the filed financing statement lapses under section 47-9515 or is terminated under section 47-9513;  or
2. The twenty-first day after the security interest attaches to the proceeds.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9317 - Interests that take priority over or take free of security interest or agricultural lien

47-9317.
Interests that take priority over or take free of security interest or agricultural lien
A. A security interest or agricultural lien is subordinate to the rights of:
1. A person entitled to priority under section 47-9322;  and
2. Except as otherwise provided in subsection E of this section,  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 of the conditions specified in section 47-9203,  subsection B,  paragraph 3 is met and a financing statement covering the collateral is filed.
B. Except as otherwise provided in subsection E of this section,  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 of this section,  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 sections 47-9320 and 47-9321,  if a person files a financing statement with respect to a purchase money security interest before or within twenty 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9318 - 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

47-9318.
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
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9319 - Rights and title of consignee with respect to creditors and purchasers

47-9319.
Rights and title of consignee with respect to creditors and purchasers
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 is deemed to have 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 chapter determines the rights and title of a consignee while goods are in the consignee's possession if,  under this article,  a perfected security interest held by the consignor would have priority over the rights of the creditor.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9320 - Buyer of goods

47-9320.
Buyer of goods
A. Except as otherwise provided in subsection E of this section,  a buyer in ordinary course of business,  other than a person buying farm products from a person engaged in farming operations,  takes free of a security interest created by the buyer's seller,  even if the security interest is perfected and the buyer knows of its existence.
B. Except as otherwise provided in subsection E of this section,  a buyer of goods from a person who used or bought the goods for use primarily for personal,  family or household purposes takes free of a security interest,  even if perfected,  if the buyer buys:
1. Without knowledge of the security interest;
2. For value;
3. Primarily for the buyer's personal,  family or household purposes;  and
4. Before the filing of a financing statement covering the goods.
C. To the extent that it affects the priority of a security interest over a buyer of goods under subsection B of this section,  the period of effectiveness of a filing made in the jurisdiction in which the seller is located is governed by section 47-9316,  subsections A and B.
D. A buyer in ordinary course of business buying oil,  gas or other minerals at the wellhead or minehead or after extraction takes free of an interest arising out of an encumbrance.
E. Subsections A and B of this section do not affect a security interest in goods in the possession of the secured party under section 47-9313.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9321 - Licensee of general intangible and lessee of goods in ordinary course of business

47-9321.
Licensee of general intangible and lessee of goods in ordinary course of business
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9323 - Future advances

47-9323.
Future advances
A. Except as otherwise provided in subsection C of this section,  for purposes of determining the priority of a perfected security interest under section 47-9322,  subsection A,  paragraph 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 section 47-9309 when it attaches;  or
(b) Temporarily under section 47-9312,  subsection E,  F or 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 section 47-9309 or section 47-9312,  subsection E,  F or G.
B. Except as otherwise provided in subsection C of this section,  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 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 of this section 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 of this section,  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 days after the purchase.
E. Subsection D of this section 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 day period.
F. Except as otherwise provided in subsection G of this section,  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 days after the lease contract becomes enforceable.
G. Subsection F of this section 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 day period.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9325 - Priority of security interests in transferred collateral

47-9325.
Priority of security interests in transferred collateral
A. Except as otherwise provided in subsection B of this section,  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 of this section subordinates a security interest only if the security interest:
1. Otherwise would have priority solely under section 47-9322,  subsection A or section 47-9324;  or
2. Arose solely under section 47-2711,  subsection C or section 47-2A508,  subsection E.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9326 - Priority of security interests created by new debtor

47-9326.
Priority of security interests created by new debtor
A. Subject to subsection B of this section,  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 section 47-9316,  subsection I,  paragraph 1 or section 47-9508 is subordinate to a security interest in the same collateral that is perfected other than by such a filed financing statement.
B. The other provisions of this article determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection A of this section. However,  if the security agreements to which a new debtor became bound as 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9327 - Priority of security interests in deposit account

47-9327.
Priority of security interests in deposit account
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 section 47-9104 has priority over a conflicting security interest held by a secured party that does not have control.
2. Except as otherwise provided in paragraphs 3 and 4 of this section,  security interests perfected by control under section 47-9314 rank according to priority in time of obtaining control.
3. Except as otherwise provided in paragraph 4 of this section,  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 section 47-9104,  subsection A,  paragraph 3 has priority over a security interest held by the bank with which the deposit account is maintained.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9328 - Priority of security interests in investment property

47-9328.
Priority of security interests in investment property
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 section 47-9106 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 paragraphs 3 and 4 of this section,  conflicting security interests held by secured parties each of which has control under section 47-9106 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 section 47-8106,  subsection D,  paragraph 1,  the secured party's becoming the person for which the securities account is maintained;
(ii) If the secured party obtained control under section 47-8106,  subsection D,  paragraph 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 section 47-8106,  subsection D,  paragraph 3,  the time on which priority would be based under this paragraph 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 section 47-9106,  subsection B,  paragraph 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 that is perfected by taking delivery under section 47-9313,  subsection A and not by control under section 47-9314 has priority over a conflicting security interest perfected by a method other than control.
6. Conflicting security interests that are created by a broker,  securities intermediary or commodity intermediary and that are perfected without control under section 47-9106 rank equally.
7. In all other cases,  priority among conflicting security interests in investment property is governed by sections 47-9322 and 47-9323.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9329 - Priority of security interests in letter-of-credit right

47-9329.
Priority of security interests in letter-of-credit right
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 section 47-9107 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 section 47-9314 rank according to priority in time of obtaining control.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9330 - Priority of purchaser of chattel paper or instrument

47-9330.
Priority of purchaser of chattel paper or instrument
A. A purchaser of chattel paper has priority over a security interest in the chattel paper that 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 section 47-9105;  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 that 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 section 47-9105 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 section 47-9327,  a purchaser having priority in chattel paper under subsection A or B of this section also has priority in proceeds of the chattel paper to the extent that:
1. Section 47-9322 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 section 47-9331,  subsection 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 of this section,  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 of this section,  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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9331 - Priority of rights of purchasers of instruments, documents and securities under other chapters; priority of interests in financial assets and security entitlements under chapter 8 of this title

47-9331.
Priority of rights of purchasers of instruments,  documents and securities under other chapters;  priority of interests in financial assets and security entitlements under chapter 8 of this title
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 chapters 3,  7 and 8 of this title.
B. This chapter does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under chapter 8 of this title.
C. Filing under this article does not constitute notice of a claim or defense to the holders,  or purchasers,  or persons described in subsections A and B.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9332 - Transfer of money; transfer of funds from deposit account

47-9332.
Transfer of money;  transfer of funds from deposit account
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9333 - Priority of certain liens arising by operation of law

47-9333.
Priority of certain liens arising by operation of law
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9335 - Accessions

47-9335.
Accessions
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 of this section,  the other provisions of this article 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 that is perfected by compliance with the requirements of a certificate of title statute under section 47-9311,  subsection B.
E. After default,  subject to article 6 of this chapter,  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 of this section shall promptly reimburse any holder of a security interest or other lien on,  or owner of,  the whole or of 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-9336 - Commingled goods

47-9336.
Commingled goods
A. 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 this article determine the priority of a security interest that attaches to the product or mass under subsection C.
F. If more than one 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 security interest is perfected under subsection D,  the security interests rank equally in proportion to the value of the collateral at the time it became commingled goods.