As Amended
SEC. 75-9-109. Scope.
(a) Except as otherwise provided in subsections (c) and (d), this article 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) A security interest arising under Section 75-2-401, 75-2-505, 75-2-711(3), or 75-2A-508(5), as provided in Section 75-9-110; and
(6) A security interest arising under Section 75-4-210 or 75-5-118.
(b) The application of this article 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 article does not apply.
(c) This article does not apply to the extent that:
(1) A statute, regulation, or treaty of the United States preempts this article;
* * *
(2) 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
(3) The rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under Section 75-5-114.
(d) This article 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 Section 75-9-333 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 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 Sections 75-9-315 and 75-9-322 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 75-9-340 applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts; and
(B) Section 75-9-404 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 Sections 75-9-203 and 75-9-308;
(B) Fixtures in Section 75-9-334;
(C) Fixture filings in Sections 75-9-501, 75-9-502, 75-9-512, 75-9-516, and 75-9-519; and
(D) Security agreements covering personal and real property in Section 75-9-604;
(12) An assignment of a claim arising in tort, other than a commercial tort claim, but Sections 75-9-315 and 75-9-322 apply with respect to proceeds and priorities in proceeds; or
(13) To a transfer by this state or a governmental unit of this state.
SOURCES: Former 1972 Code § 75-9-109 [Codes, 1942, §
41A:9-109; Laws, 1966, ch. 316, § 9-109] is now found in comparable
provisions enacted at § 75-9-102 by Laws, 2001, ch. 495, § 1.
Present § 75-9-109 derived from former 1972 Code §§ 75-9-102
[Codes, 1942, § 41A:9-102; Laws, 1966, ch. 316, § 9-102; Laws,
1977, ch. 452, § 5] and 75-9-104 [Codes, 1942, § 41A:9-104; Laws,
1966, ch. 316, § 9-104; Laws, 1977, ch. 452, § 7; Laws,
1996, ch. 460, § 22] and was enacted by Laws, 2001, ch.
495, § 1, HB 1311; Laws, 2002, ch. 453, § 5, SB 2998, eff from
and after passage (approved Mar. 20, 2002.).
PREVIOUS VERSIONS: Pre-2002