2023 Laws of Puerto Rico › TITLE NINETEEN - Negotiable Instruments (§§ 1-24 — 2409) › Subtitle 2 - Commercial Transactions (§§ 401 — 2409) › Chapter 55A - Secured Transactions (§§ 2211 — 2409) › Subchapter I - General Provisions (§§ 2211 — 2220) › § 2219 - Scope

(a) General scope of chapter.— Except as otherwise provided in subsections (c) and (d), this chapter applies to:
(1) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract;
(2) an agricultural lien;
(3) a sale of accounts, chattel paper, payment intangibles, or promissory notes;
(4) a consignment;
(5) [Reserved], and
(6) a security interest arising under § 860 or 1237 of this title.
(b) Security interest in secured obligation.— The application of this chapter to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this chapter does not apply.
(c) Extent to which this chapter does not apply.— This chapter does not apply to the extent that:
(1) A statute, regulation, or treaty of the United States preempts this chapter;
(2) the constitution or another statute of this state expressly governs the creation, perfection, priority, or enforcement of a security interest created by this state or a governmental unit of this state;
(3) a statute of another state, a foreign country, or a governmental unit of another state or a foreign country, other than a statute generally applicable to security interests, expressly governs creation, perfection, priority, or enforcement of a security interest created by the state, country, or governmental unit, or
(4) the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under § 1233 of this title.
(d) Inapplicability of chapter.— This chapter does not apply to:
(1) A landlord's lien, other than an agricultural lien;
(2) a lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but § 2283 of this title applies with respect to priority of the lien;
(3) an assignment of a claim for wages, salary, or other compensation of an employee;
(4) a sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose;
(5) an assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only;
(6) an assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract;
(7) an assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness;
(8) a transfer of an interest in or an assignment of a claim under a policy of insurance, other than:
(A) The rights of a beneficiary under a policy of life insurance, and
(B) an assignment by or to a health-care provider of a health-care-insurance receivable and any subsequent assignment of the right to payment, but §§ 2265 and 2272 of this title apply with respect to proceeds and priorities in proceeds;
(9) an assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral;
(10) a right of recoupment or set-off, but:
(A) Section 2290 of this title applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts, and
(B) Section 2304 of this title applies with respect to defenses or claims of an account debtor;
(11) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) Liens on real property in §§ 2233 and 2258 of this title;
(B) fixtures in § 2284 of this title;
(C) fixture filings in §§ 2321, 2322, 2332, 2336, and 2339 of this title, and
(D) security agreements covering personal and real property in § 2264 of this title;
(12) an assignment of a claim arising in tort, other than a commercial tort claim, but §§ 2265 and 2272 of this title apply with respect to proceeds and priorities in proceeds; or
(13) an assignment of a deposit account in a consumer transaction, but §§ 2265 and 2272 of this title apply with respect to proceeds and priorities in proceeds.
(e) Effect on Civil Code provisions.— The provisions of the Civil Code of Puerto Rico with respect to pledges and transmissions of credits shall not apply to transactions governed by this chapter.
—Sept. 19, 1996, No. 241, added as § 9–109 on Jan. 17, 2012, No. 21, § 11, eff. 1 year after Jan. 17, 2012.
History