• ARTICLE 1 General Provisions
    • ANNOTATIONS
    • PART 1 SHORT TITLE, CONSTRUCTION, APPLICATION AND SUBJECT MATTER OF THE ACT
      • 55-1-101. Short title.
        • ANNOTATIONS
      • 55-1-102. Purposes; rules of construction; variation by agreement.
        • ANNOTATIONS
      • 55-1-103. Supplementary general principles of law applicable.
        • ANNOTATIONS
      • 55-1-104. Construction against implicit repeal.
        • ANNOTATIONS
      • 55-1-105. Territorial application of the act; parties' power to choose applicable law.
        • ANNOTATIONS
      • 55-1-106. Remedies to be liberally administered.
        • ANNOTATIONS
      • 55-1-107. Waiver or renunciation of claim or right after breach.
        • ANNOTATIONS
      • 55-1-108. Severability.
        • ANNOTATIONS
      • 55-1-109. Section captions.
        • ANNOTATIONS
    • PART 2 GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION
      • 55-1-201. General definitions.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. CONTRACT.
          • III. SECURITY INTEREST.
          • IV. SIGNED.
          • V. WRITTEN OR WRITING.
          • VI. BUYER IN ORDINARY COURSE OF BUSINESS.
          • VII. CONSPICUOUS.
          • VIII. GOOD FAITH.
          • IX. HOLDER.
      • 55-1-202. Prima facie evidence by third-party documents.
        • ANNOTATIONS
      • 55-1-203. Obligation of good faith.
        • ANNOTATIONS
      • 55-1-204. Time; reasonable time; "seasonably.".
        • ANNOTATIONS
      • 55-1-205. Course of dealing and usage of trade.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. COURSE OF DEALING.
          • III. USAGE OF TRADE.
          • IV. MODIFICATION OF AGREEMENT.
      • 55-1-206. Statute of frauds for kinds of personal property not otherwise covered.
        • ANNOTATIONS
      • 55-1-207. Performance or acceptance under reservation of rights.
        • ANNOTATIONS
      • 55-1-208. Option to accelerate at will.
        • ANNOTATIONS
      • 55-1-209. Subordinated obligations.
        • ANNOTATIONS
  • ARTICLE 2 Sales
    • PART 1 SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER
      • 55-2-101. Short title.
        • ANNOTATIONS
      • 55-2-102. Scope; certain security and other transactions excluded from this article.
        • ANNOTATIONS
      • 55-2-103. Definitions and index of definitions.
        • ANNOTATIONS
      • 55-2-104. Definitions: "merchant"; "between merchants"; "financing agency.".
        • ANNOTATIONS
      • 55-2-105. Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit.".
        • ANNOTATIONS
      • 55-2-106. Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation.".
        • ANNOTATIONS
      • 55-2-107. Goods to be severed from realty; recording.
        • ANNOTATIONS
    • PART 2 FORM, FORMATION AND READJUSTMENT OF CONTRACT
      • 55-2-201. Formal requirements; statute of frauds.
        • ANNOTATIONS
      • 55-2-202. Final written expression; parol or extrinsic evidence.
        • ANNOTATIONS
      • 55-2-203. Seals inoperative.
        • ANNOTATIONS
      • 55-2-204. Formation in general.
        • ANNOTATIONS
      • 55-2-205. Firm offers.
        • ANNOTATIONS
      • 55-2-206. Offer and acceptance in formation of contract.
        • ANNOTATIONS
      • 55-2-207. Additional terms in acceptance or confirmation.
        • ANNOTATIONS
      • 55-2-208. Course of performance or practical construction.
        • ANNOTATIONS
      • 55-2-209. Modification, rescission and waiver.
        • ANNOTATIONS
      • 55-2-210. Delegation of performance; assignment of rights.
        • ANNOTATIONS
    • PART 3 GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT
      • 55-2-301. General obligations of parties.
        • ANNOTATIONS
      • 55-2-302. Unconscionable contract or clause.
        • ANNOTATIONS
      • 55-2-303. Allocation or division of risks.
        • ANNOTATIONS
      • 55-2-304. Price payable in money, goods, realty or otherwise.
        • ANNOTATIONS
      • 55-2-305. Open price term.
        • ANNOTATIONS
      • 55-2-306. Output, requirements and exclusive dealings.
        • ANNOTATIONS
      • 55-2-307. Delivery in single lot or several lots.
        • ANNOTATIONS
      • 55-2-308. Absence of specified place for delivery.
        • ANNOTATIONS
      • 55-2-309. Absence of specific time provisions; notice of termination.
        • ANNOTATIONS
      • 55-2-310. Open time for payment or running of credit; authority to ship under reservation.
        • ANNOTATIONS
      • 55-2-311. Options and cooperation respecting performance.
        • ANNOTATIONS
      • 55-2-312. Warranty of title and against infringement; buyer's obligation against infringement.
        • ANNOTATIONS
      • 55-2-313. Express warranties by affirmation, promise, description, sample.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. SELLER'S OPINION.
          • III. AFFIRMATION OF FACTS.
      • 55-2-314. Implied warranty: merchantability; usage of trade.
        • ANNOTATIONS
      • 55-2-315. Implied warranty: fitness for particular purpose.
        • ANNOTATIONS
      • 55-2-316. Exclusion or modification of warranties.
        • ANNOTATIONS
      • 55-2-317. Cumulation and conflict of warranties express or implied.
        • ANNOTATIONS
      • 55-2-318. Third-party beneficiaries of warranties express or implied.
        • ANNOTATIONS
      • 55-2-319. F.O.B. and F.A.S. terms.
        • ANNOTATIONS
      • 55-2-320. C.I.F. and C.&F. terms.
        • ANNOTATIONS
      • 55-2-321. C.I.F. or C.&F.: "net landed weights"; "payment on arrival"; warranty of condition on arrival.
        • ANNOTATIONS
      • 55-2-322. Delivery "ex-ship.".
        • ANNOTATIONS
      • 55-2-323. Form of bill of lading required in overseas shipment; "overseas.".
        • ANNOTATIONS
      • 55-2-324. "No arrival, no sale" term.
        • ANNOTATIONS
      • 55-2-325. "Letter of credit" term; "confirmed credit.".
        • ANNOTATIONS
      • 55-2-326. Sale on approval and sale or return; rights of creditors.
        • ANNOTATIONS
      • 55-2-327. Special incidents of sale on approval and sale or return.
        • ANNOTATIONS
      • 55-2-328. Sale by auction.
        • ANNOTATIONS
    • PART 4 TITLE, CREDITORS AND GOOD FAITH PURCHASERS
      • 55-2-401. Passing of title; reservation for security; limited application of this section.
        • ANNOTATIONS
      • 55-2-402. Rights of seller's creditors against sold goods.
        • ANNOTATIONS
      • 55-2-403. Power to transfer; good faith purchase of goods; "entrusting".
        • ANNOTATIONS
    • PART 5 PERFORMANCE
      • 55-2-501. Insurable interest in goods; manner of identification of goods.
        • ANNOTATIONS
      • 55-2-502. Buyer's right to goods on seller's repudiation, failure to deliver or insolvency.
        • ANNOTATIONS
      • 55-2-503. Manner of seller's tender of delivery.
        • ANNOTATIONS
      • 55-2-504. Shipment by seller.
        • ANNOTATIONS
      • 55-2-505. Seller's shipment under reservation.
        • ANNOTATIONS
      • 55-2-506. Rights of financing agency.
        • ANNOTATIONS
      • 55-2-507. Effect of seller's tender; delivery on condition.
        • ANNOTATIONS
      • 55-2-508. Cure by seller of improper tender or delivery; replacement.
        • ANNOTATIONS
      • 55-2-509. Risk of loss in the absence of breach.
        • ANNOTATIONS
      • 55-2-510. Effect of breach on risk of loss.
        • ANNOTATIONS
      • 55-2-511. Tender of payment by buyer; payment by check.
        • ANNOTATIONS
      • 55-2-512. Payment by buyer before inspection.
        • ANNOTATIONS
      • 55-2-513. Buyer's right to inspection of goods.
        • ANNOTATIONS
      • 55-2-514. When documents deliverable on acceptance; when on payment.
        • ANNOTATIONS
      • 55-2-515. Preserving evidence of goods in dispute.
        • ANNOTATIONS
    • PART 6 BREACH, REPUDIATION AND EXCUSE
      • 55-2-601. Buyer's rights on improper delivery.
        • ANNOTATIONS
      • 55-2-602. Manner and effect of rightful rejection.
        • ANNOTATIONS
      • 55-2-603. Merchant buyer's duties as to rightfully rejected goods.
        • ANNOTATIONS
      • 55-2-604. Buyer's options as to salvage of rightfully rejected goods.
        • ANNOTATIONS
      • 55-2-605. Waiver of buyer's objections by failure to particularize.
        • ANNOTATIONS
      • 55-2-606. What constitutes acceptance of goods.
        • ANNOTATIONS
      • 55-2-607. Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over.
        • ANNOTATIONS
      • 55-2-608. Revocation of acceptance in whole or in part.
        • ANNOTATIONS
      • 55-2-609. Right to adequate assurance of performance.
        • ANNOTATIONS
      • 55-2-610. Anticipatory repudiation.
        • ANNOTATIONS
      • 55-2-611. Retraction of anticipatory repudiation.
        • ANNOTATIONS
      • 55-2-612. "Installment contract"; breach.
        • ANNOTATIONS
      • 55-2-613. Casualty to identified goods.
        • ANNOTATIONS
      • 55-2-614. Substituted performance.
        • ANNOTATIONS
      • 55-2-615. Excuse by failure of presupposed conditions.
        • ANNOTATIONS
      • 55-2-616. Procedure on notice claiming excuse.
        • ANNOTATIONS
    • PART 7 REMEDIES
      • 55-2-701. Remedies for breach of collateral contracts not impaired.
        • ANNOTATIONS
      • 55-2-702. Seller's remedies on discovery of buyer's insolvency.
        • ANNOTATIONS
      • 55-2-703. Seller's remedies in general.
        • ANNOTATIONS
      • 55-2-704. Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.
        • ANNOTATIONS
      • 55-2-705. Seller's stoppage of delivery in transit or otherwise.
        • ANNOTATIONS
      • 55-2-706. Seller's resale including contract for resale.
        • ANNOTATIONS
      • 55-2-707. "Person in the position of a seller.".
        • ANNOTATIONS
      • 55-2-708. Seller's damages for nonacceptance or repudiation.
        • ANNOTATIONS
      • 55-2-709. Action for the price.
        • ANNOTATIONS
      • 55-2-710. Seller's incidental damages.
        • ANNOTATIONS
      • 55-2-711. Buyer's remedies in general; buyer's security interest in rejected goods.
        • ANNOTATIONS
      • 55-2-712. "Cover"; buyer's procurement of substitute goods.
        • ANNOTATIONS
      • 55-2-713. Buyer's damages for nondelivery or repudiation.
        • ANNOTATIONS
      • 55-2-714. Buyer's damages for breach in regard to accepted goods.
        • ANNOTATIONS
      • 55-2-715. Buyer's incidental and consequential damages.
        • ANNOTATIONS
      • 55-2-716. Buyer's right to specific performance or replevin.
        • ANNOTATIONS
      • 55-2-717. Deduction of damages from the price.
        • ANNOTATIONS
      • 55-2-718. Liquidation or limitation of damages; deposits.
        • ANNOTATIONS
      • 55-2-719. Contractual modification or limitation of remedy.
        • ANNOTATIONS
      • 55-2-720. Effect of "cancellation" or "rescission" on claims for antecedent breach.
        • ANNOTATIONS
      • 55-2-721. Remedies for fraud.
        • ANNOTATIONS
      • 55-2-722. Who can sue third parties for injury to goods.
        • ANNOTATIONS
      • 55-2-723. Proof of market price; time and place.
        • ANNOTATIONS
      • 55-2-724. Admissibility of market quotations.
        • ANNOTATIONS
      • 55-2-725. Statute of limitations in contracts for sale.
        • ANNOTATIONS
  • ARTICLE 2A Leases
    • ANNOTATIONS
    • PART 1 GENERAL PROVISIONS
      • 55-2A-101. Short title.
        • ANNOTATIONS
      • 55-2A-102. Scope.
        • ANNOTATIONS
      • 55-2A-103. Definitions and index of definitions.
        • ANNOTATIONS
      • 55-2A-104. Leases subject to other law.
        • ANNOTATIONS
      • 55-2A-105. Territorial application of article to goods covered by certificate of title.
        • ANNOTATIONS
      • 55-2A-106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
        • ANNOTATIONS
      • 55-2A-107. Waiver or renunciation of claim or right after default.
        • ANNOTATIONS
      • 55-2A-108. Unconscionability.
        • ANNOTATIONS
      • 55-2A-109. Option to accelerate at will.
        • ANNOTATIONS
    • PART 2 FORMATION AND CONSTRUCTION OF LEASE CONTRACT
      • 55-2A-201. Statute of frauds.
        • ANNOTATIONS
      • 55-2A-202. Final written expression; parol or extrinsic evidence.
        • ANNOTATIONS
      • 55-2A-203. Seals inoperative.
        • ANNOTATIONS
      • 55-2A-204. Formation in general.
        • ANNOTATIONS
      • 55-2A-205. Firm offers.
        • ANNOTATIONS
      • 55-2A-206. Offer and acceptance in formation of lease contract.
        • ANNOTATIONS
      • 55-2A-207. Course of performance or practical construction.
        • ANNOTATIONS
      • 55-2A-208. Modification, rescission and waiver.
        • ANNOTATIONS
      • 55-2A-209. Lessee under finance lease as beneficiary of supply contract.
        • ANNOTATIONS
      • 55-2A-210. Express warranties.
        • ANNOTATIONS
      • 55-2A-211. Warranties against interference and against infringement; lessee's obligation against infringement.
        • ANNOTATIONS
      • 55-2A-212. Implied warranty of merchantability.
        • ANNOTATIONS
      • 55-2A-213. Implied warranty of fitness for particular purpose.
        • ANNOTATIONS
      • 55-2A-214. Exclusion or modification of warranties.
        • ANNOTATIONS
      • 55-2A-215. Cumulation and conflict of warranties express or implied.
        • ANNOTATIONS
      • 55-2A-216. Third-party beneficiaries of express and implied warranties.
        • ANNOTATIONS
      • 55-2A-217. Identification.
        • ANNOTATIONS
      • 55-2A-218. Insurance and proceeds.
        • ANNOTATIONS
      • 55-2A-219. Risk of loss.
        • ANNOTATIONS
      • 55-2A-220. Effect of default on risk of loss.
        • ANNOTATIONS
      • 55-2A-221. Casualty to identified goods.
        • ANNOTATIONS
    • PART 3 EFFECT OF LEASE CONTRACT
      • 55-2A-301. Enforceability of lease contract.
        • ANNOTATIONS
      • 55-2A-302. Title to and possession of goods.
        • ANNOTATIONS
      • 55-2A-303. Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights.
        • ANNOTATIONS
      • 55-2A-304. Subsequent lease of goods by lessor.
        • ANNOTATIONS
      • 55-2A-305. Sale or sublease of goods by lessee.
        • ANNOTATIONS
      • 55-2A-306. Priority of certain liens arising by operation of law.
        • ANNOTATIONS
      • 55-2A-307. Priority of liens arising by attachment or levy on, security interests in and other claims to goods.
        • ANNOTATIONS
      • 55-2A-308. Special rights of creditors.
        • ANNOTATIONS
      • 55-2A-309. Lessor's and lessee's rights when goods become fixtures.
        • ANNOTATIONS
      • 55-2A-310. Lessor's and lessee's rights when goods become accessions.
        • ANNOTATIONS
      • 55-2A-311. Priority subject to subordination.
        • ANNOTATIONS
    • PART 4 PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED
      • 55-2A-401. Insecurity; adequate assurance of performance.
        • ANNOTATIONS
      • 55-2A-402. Anticipatory repudiation.
        • ANNOTATIONS
      • 55-2A-403. Retraction of anticipatory repudiation.
        • ANNOTATIONS
      • 55-2A-404. Substituted performance.
        • ANNOTATIONS
      • 55-2A-405. Excused performance.
        • ANNOTATIONS
      • 55-2A-406. Procedure on excused performance.
        • ANNOTATIONS
      • 55-2A-407. Irrevocable promises; finance leases.
        • ANNOTATIONS
    • PART 5 DEFAULT
      • 55-2A-501. Default; procedure.
        • ANNOTATIONS
      • 55-2A-502. Notice after default.
        • ANNOTATIONS
      • 55-2A-503. Modification or impairment of rights and remedies.
        • ANNOTATIONS
      • 55-2A-504. Liquidation of damages.
        • ANNOTATIONS
      • 55-2A-505. Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies.
        • ANNOTATIONS
      • 55-2A-506. Statute of limitations.
        • ANNOTATIONS
      • 55-2A-507. Proof of market rent; time and place.
        • ANNOTATIONS
      • 55-2A-508. Lessee's remedies.
        • ANNOTATIONS
      • 55-2A-509. Lessee's rights on improper delivery; rightful rejection.
        • ANNOTATIONS
      • 55-2A-510. Installment lease contracts; rejection and default.
        • ANNOTATIONS
      • 55-2A-511. Merchant lessee's duties as to rightfully rejected goods.
        • ANNOTATIONS
      • 55-2A-512. Lessee's duties as to rightfully rejected goods.
        • ANNOTATIONS
      • 55-2A-513. Cure by lessor of improper tender or delivery; replacement.
        • ANNOTATIONS
      • 55-2A-514. Waiver of lessee's objections.
        • ANNOTATIONS
      • 55-2A-515. Acceptance of goods.
        • ANNOTATIONS
      • 55-2A-516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
        • ANNOTATIONS
      • 55-2A-517. Revocation of acceptance of goods.
        • ANNOTATIONS
      • 55-2A-518. Cover; substitute goods.
        • ANNOTATIONS
      • 55-2A-519. Lessee's damages for non-delivery, repudiation, default and breach of warranty in regard to accepted goods.
        • ANNOTATIONS
      • 55-2A-520. Lessee's incidental and consequential damages.
        • ANNOTATIONS
      • 55-2A-521. Lessee's right to specific performance or replevin.
        • ANNOTATIONS
      • 55-2A-522. Lessee's right to goods on lessor's insolvency.
        • ANNOTATIONS
      • 55-2A-523. Lessor's remedies.
        • ANNOTATIONS
      • 55-2A-524. Lessor's right to identify goods to lease contract.
        • ANNOTATIONS
      • 55-2A-525. Lessor's right to possession of goods.
        • ANNOTATIONS
      • 55-2A-526. Lessor's stoppage of delivery in transit or otherwise.
        • ANNOTATIONS
      • 55-2A-527. Lessor's rights to dispose of goods.
        • ANNOTATIONS
      • 55-2A-528. Lessor's damages for non-acceptance, failure to pay, repudiation or other default.
        • ANNOTATIONS
      • 55-2A-529. Lessor's action for the rent.
        • ANNOTATIONS
      • 55-2A-530. Lessor's incidental damages.
        • ANNOTATIONS
      • 55-2A-531. Standing to sue third parties for injury to goods.
        • ANNOTATIONS
      • 55-2A-532. Lessor's rights to residual interest.
        • ANNOTATIONS
  • ARTICLE 3 Negotiable Instruments
    • ANNOTATIONS
    • PART 1 GENERAL PROVISIONS AND DEFINITIONS
      • 55-3-101. Short title.
        • ANNOTATIONS
      • 55-3-102. Subject matter.
        • ANNOTATIONS
      • 55-3-103. Definitions.
        • ANNOTATIONS
      • 55-3-104. Negotiable instrument.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. SCOPE OF 'A WRITING.'.
          • III. UNCONDITIONAL PROMISE OR ORDER TO PAY SUM CERTAIN.
          • IV. PAYABLE ON DEMAND OR AT DEFINITE TIME.
      • 55-3-105. Issue of instrument.
        • ANNOTATIONS
      • 55-3-106. Unconditional promise or order.
        • ANNOTATIONS
      • 55-3-107. Instrument payable in foreign money.
        • ANNOTATIONS
      • 55-3-108. Payable on demand or at definite time.
        • ANNOTATIONS
      • 55-3-109. Payable to bearer or to order.
        • ANNOTATIONS
      • 55-3-110. Identification of person to whom instrument is payable.
        • ANNOTATIONS
      • 55-3-111. Place of payment.
        • ANNOTATIONS
      • 55-3-112. Interest.
        • ANNOTATIONS
      • 55-3-113. Date of instrument.
        • ANNOTATIONS
      • 55-3-114. Contradictory terms of instrument.
        • ANNOTATIONS
      • 55-3-115. Incomplete instrument.
        • ANNOTATIONS
      • 55-3-116. Joint and several liability; contribution.
        • ANNOTATIONS
      • 55-3-117. Other agreements affecting instrument.
        • ANNOTATIONS
      • 55-3-118. Statute of limitations.
        • ANNOTATIONS
      • 55-3-119. Notice of right to defend action.
        • ANNOTATIONS
      • 55-3-120 to 55-3-122. Repealed.
        • ANNOTATIONS
    • PART 2 NEGOTIATION, TRANSFER AND INDORSEMENT
      • 55-3-201. Negotiation.
        • ANNOTATIONS
      • 55-3-202. Negotiation subject to rescission.
        • ANNOTATIONS
      • 55-3-203. Transfer of instrument; rights acquired by transfer.
        • ANNOTATIONS
      • 55-3-204. Indorsement.
        • ANNOTATIONS
      • 55-3-205. Special indorsement; blank indorsement; anomalous indorsement.
        • ANNOTATIONS
      • 55-3-206. Restrictive indorsement.
        • ANNOTATIONS
      • 55-3-207. Reacquisition.
        • ANNOTATIONS
      • 55-3-208. Repealed.
        • ANNOTATIONS
    • PART 3 ENFORCEMENT OF INSTRUMENTS
      • 55-3-301. Person entitled to enforce instrument.
        • ANNOTATIONS
      • 55-3-302. Holder in due course.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. HOLDER FOR VALUE.
          • III. HOLDER WITHOUT NOTICE.
      • 55-3-303. Value and consideration.
        • ANNOTATIONS
      • 55-3-304. Overdue instrument.
        • ANNOTATIONS
      • 55-3-305. Defenses and claims in recoupment.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. DEFENSES HOLDER IN DUE COURSE FREE FROM.
          • III. DEFENSES HOLDER IN DUE COURSE NOT FREE FROM.
      • 55-3-306. Claims to an instrument.
        • ANNOTATIONS
      • 55-3-307. Notice of breach of fiduciary duty.
        • ANNOTATIONS
      • 55-3-308. Proof of signatures and status as holder in due course.
        • ANNOTATIONS
      • 55-3-309. Enforcement of lost, destroyed, or stolen instrument.
        • ANNOTATIONS
      • 55-3-310. Effect of instrument on obligation for which taken.
        • ANNOTATIONS
      • 55-3-311. Accord and satisfaction by use of instrument.
        • ANNOTATIONS
      • 55-3-312. Lost, destroyed or stolen cashier's check, teller's check or certified check.
        • ANNOTATIONS
    • PART 4 LIABILITY OF PARTIES
      • 55-3-401. Signature.
        • ANNOTATIONS
      • 55-3-402. Signature by representative.
        • ANNOTATIONS
      • 55-3-403. Unauthorized signature.
        • ANNOTATIONS
      • 55-3-404. Impostors; fictitious payees.
        • ANNOTATIONS
      • 55-3-405. Employer's responsibility for fraudulent indorsement by employee.
        • ANNOTATIONS
      • 55-3-406. Negligence contributing to forged signature or alteration of instrument.
        • ANNOTATIONS
      • 55-3-407. Alteration.
        • ANNOTATIONS
      • 55-3-408. Drawee not liable on unaccepted draft.
        • ANNOTATIONS
      • 55-3-409. Acceptance of draft; certified check.
        • ANNOTATIONS
      • 55-3-410. Acceptance varying draft.
        • ANNOTATIONS
      • 55-3-411. Refusal to pay cashier's checks, teller's checks, and certified checks.
        • ANNOTATIONS
      • 55-3-412. Obligation of issuer of note or cashier's check.
        • ANNOTATIONS
      • 55-3-413. Obligation of acceptor.
        • ANNOTATIONS
      • 55-3-414. Obligation of drawer.
        • ANNOTATIONS
      • 55-3-415. Obligation of indorser.
        • ANNOTATIONS
      • 55-3-416. Transfer warranties.
        • ANNOTATIONS
      • 55-3-417. Presentment warranties.
        • ANNOTATIONS
      • 55-3-418. Payment or acceptance by mistake.
        • ANNOTATIONS
      • 55-3-419. Instruments signed for accommodation.
        • ANNOTATIONS
      • 55-3-420. Conversion of instrument.
        • ANNOTATIONS
    • PART 5 DISHONOR
      • 55-3-501. Presentment.
        • ANNOTATIONS
      • 55-3-502. Dishonor.
        • ANNOTATIONS
      • 55-3-503. Notice of dishonor.
        • ANNOTATIONS
      • 55-3-504. Excused presentment and notice of dishonor.
        • ANNOTATIONS
      • 55-3-505. Evidence of dishonor.
        • ANNOTATIONS
      • 55-3-506 to 55-3-511. Repealed.
        • ANNOTATIONS
    • PART 6 DISCHARGE AND PAYMENT
      • 55-3-601. Discharge and effect of discharge.
        • ANNOTATIONS
      • 55-3-602. Payment.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. PAYMENT OR SATISFACTION.
          • III. BY ANY PERSON.
      • 55-3-603. Tender of payment.
        • ANNOTATIONS
      • 55-3-604. Discharge by cancellation or renunciation.
        • ANNOTATIONS
      • 55-3-605. Discharge of indorsers and accommodation parties.
        • ANNOTATIONS
      • 55-3-606. Repealed.
        • ANNOTATIONS
    • PART 7 ADVICE OF INTERNATIONAL SIGHT DRAFT
      • 55-3-701. Repealed.
        • ANNOTATIONS
    • PART 8 MISCELLANEOUS
      • 55-3-801 to 55-3-805. Repealed.
        • ANNOTATIONS
  • ARTICLE 4 Bank Deposits and Collections
    • ANNOTATIONS
    • PART 1 GENERAL PROVISIONS AND DEFINITIONS
      • 55-4-101. Short title.
        • ANNOTATIONS
      • 55-4-102. Applicability.
        • ANNOTATIONS
      • 55-4-103. Variation by agreement; measure of damages; action constituting ordinary care.
        • ANNOTATIONS
      • 55-4-104. Definitions and index of definitions.
        • ANNOTATIONS
      • 55-4-105. "Bank"; "depositary bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank".
        • ANNOTATIONS
      • 55-4-106. Payable through or payable at bank; collecting bank.
        • ANNOTATIONS
      • 55-4-107. Separate office of a bank.
        • ANNOTATIONS
      • 55-4-108. Time of receipt of items.
        • ANNOTATIONS
      • 55-4-109. Delays.
        • ANNOTATIONS
      • 55-4-110. Electronic presentment.
        • ANNOTATIONS
      • 55-4-111. Statute of limitations.
        • ANNOTATIONS
    • PART 2 COLLECTION OF ITEMS - DEPOSITARY AND COLLECTING BANKS
      • 55-4-201. Status of collecting banks as agent and provisional status of credits; applicability of article; item indorsed "pay any bank".
        • ANNOTATIONS
      • 55-4-202. Responsibility for collection or return; when action timely.
        • ANNOTATIONS
      • 55-4-203. Effect of instructions.
        • ANNOTATIONS
      • 55-4-204. Methods of sending and presenting; sending directly to payor bank.
        • ANNOTATIONS
      • 55-4-205. Depositary bank holder of unindorsed item.
        • ANNOTATIONS
      • 55-4-206. Transfer between banks.
        • ANNOTATIONS
      • 55-4-207. Transfer warranties.
        • ANNOTATIONS
      • 55-4-208. Presentment warranties.
        • ANNOTATIONS
      • 55-4-209. Encoding and retention warranties.
        • ANNOTATIONS
      • 55-4-210. Security interest of collecting bank in items, accompanying documents and proceeds.
        • ANNOTATIONS
      • 55-4-211. When bank gives value for purposes of holder in due course.
        • ANNOTATIONS
      • 55-4-212. Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser.
        • ANNOTATIONS
      • 55-4-213. Medium and time of settlement by bank.
        • ANNOTATIONS
      • 55-4-214. Right of charge-back or refund; liability of collecting bank; return of item.
        • ANNOTATIONS
      • 55-4-215. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
        • ANNOTATIONS
      • 55-4-216. Insolvency and preference.
        • ANNOTATIONS
    • PART 3 COLLECTION OF ITEMS - PAYOR BANKS
      • 55-4-301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
        • ANNOTATIONS
      • 55-4-302. Payor bank's responsibility for late return of item.
        • ANNOTATIONS
      • 55-4-303. When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified.
        • ANNOTATIONS
    • PART 4 RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER
      • 55-4-401. When bank may charge customer's account.
        • ANNOTATIONS
      • 55-4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
        • ANNOTATIONS
          • I. GENERAL CONSIDERATION.
          • II. CUSTOMER.
          • III. DISHONOR.
          • IV. DAMAGES.
      • 55-4-403. Customer's right to stop payment; burden of proof of loss.
        • ANNOTATIONS
      • 55-4-404. Bank not obliged to pay check more than six months old.
        • ANNOTATIONS
      • 55-4-405. Death or incompetence of customer.
        • ANNOTATIONS
      • 55-4-406. Customer's duty to discover and report unauthorized signature or alteration.
        • ANNOTATIONS
      • 55-4-407. Payor bank's right to subrogation on improper payment.
        • ANNOTATIONS
    • PART 5 COLLECTION OF DOCUMENTARY DRAFTS
      • 55-4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
        • ANNOTATIONS
      • 55-4-502. Presentment of "on arrival" drafts.
        • ANNOTATIONS
      • 55-4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
        • ANNOTATIONS
      • 55-4-504. Privilege of presenting bank to deal with goods; security interest for expenses.
        • ANNOTATIONS
  • ARTICLE 4A Funds Transfers
    • ANNOTATIONS
    • PART 1 SUBJECT MATTER AND DEFINITIONS
      • 55-4A-101. Short title.
        • ANNOTATIONS
      • 55-4A-102. Subject matter.
        • ANNOTATIONS
      • 55-4A-103. Payment order; definitions.
        • ANNOTATIONS
      • 55-4A-104. Funds transfer; definitions.
        • ANNOTATIONS
      • 55-4A-105. Other definitions.
        • ANNOTATIONS
      • 55-4A-106. Time payment order is received.
        • ANNOTATIONS
      • 55-4A-107. Federal reserve regulations and operating circulars.
        • ANNOTATIONS
      • 55-4A-108. Exclusion of consumer transactions governed by federal law.
        • ANNOTATIONS
    • PART 2 ISSUE AND ACCEPTANCE OF PAYMENT ORDER
      • 55-4A-201. Security procedure.
        • ANNOTATIONS
      • 55-4A-202. Authorized and verified payment orders.
        • ANNOTATIONS
      • 55-4A-203. Unenforceability of certain verified payment orders.
        • ANNOTATIONS
      • 55-4A-204. Refund of payment and duty of customer to report with respect to unauthorized payment order.
        • ANNOTATIONS
      • 55-4A-205. Erroneous payment orders.
        • ANNOTATIONS
      • 55-4A-206. Transmission of payment order through funds-transfer or other communication system.
        • ANNOTATIONS
      • 55-4A-207. Misdescription of beneficiary.
        • ANNOTATIONS
      • 55-4A-208. Misdescription of intermediary bank or beneficiary's bank.
        • ANNOTATIONS
      • 55-4A-209. Acceptance of payment order.
        • ANNOTATIONS
      • 55-4A-210. Rejection of payment order.
        • ANNOTATIONS
      • 55-4A-211. Cancellation and amendment of payment order.
        • ANNOTATIONS
      • 55-4A-212. Liability and duty of receiving bank regarding unaccepted payment order.
        • ANNOTATIONS
    • PART 3 EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK
      • 55-4A-301. Execution and execution date.
        • ANNOTATIONS
      • 55-4A-302. Obligations of receiving bank in execution of payment order.
        • ANNOTATIONS
      • 55-4A-303. Erroneous execution of payment order.
        • ANNOTATIONS
      • 55-4A-304. Duty of sender to report erroneously executed payment order.
        • ANNOTATIONS
      • 55-4A-305. Liability for late or improper execution or failure to execute payment order.
        • ANNOTATIONS
    • PART 4 PAYMENT
      • 55-4A-401. Payment date.
        • ANNOTATIONS
      • 55-4A-402. Obligation of sender to pay receiving bank.
        • ANNOTATIONS
      • 55-4A-403. Payment by sender to receiving bank.
        • ANNOTATIONS
      • 55-4A-404. Obligation of beneficiary's bank to pay and give notice to beneficiary.
        • ANNOTATIONS
      • 55-4A-405. Payment by beneficiary's bank to beneficiary.
        • ANNOTATIONS
      • 55-4A-406. Payment by originator to beneficiary; discharge of underlying obligation.
        • ANNOTATIONS
    • PART 5 MISCELLANEOUS PROVISIONS
      • 55-4A-501. Variation by agreement and effect of funds-transfer system rule.
        • ANNOTATIONS
      • 55-4A-502. Creditor process served on receiving bank; set-off by beneficiary's bank.
        • ANNOTATIONS
      • 55-4A-503. Injunction or restraining order with respect to funds transfer.
        • ANNOTATIONS
      • 55-4A-504. Order in which items and payment orders may be charged to account; order of withdrawals from account.
        • ANNOTATIONS
      • 55-4A-505. Preclusion of objection to debit of customer's account.
        • ANNOTATIONS
      • 55-4A-506. Rate of interest.
        • ANNOTATIONS
      • 55-4A-507. Choice of law.
        • ANNOTATIONS
  • ARTICLE 5 Letters of Credit
    • 55-5-101. Short title.
      • ANNOTATIONS
    • 55-5-102. Definitions.
      • ANNOTATIONS
    • 55-5-103. Scope.
      • ANNOTATIONS
    • 55-5-104. Formal requirements.
      • ANNOTATIONS
    • 55-5-105. Consideration.
      • ANNOTATIONS
    • 55-5-106. Issuance, amendment, cancellation and duration.
      • ANNOTATIONS
    • 55-5-107. Confirmer, nominated person and adviser.
      • ANNOTATIONS
    • 55-5-108. Issuer's rights and obligations.
      • ANNOTATIONS
    • 55-5-109. Fraud and forgery.
      • ANNOTATIONS
    • 55-5-110. Warranties.
      • ANNOTATIONS
    • 55-5-111. Remedies.
      • ANNOTATIONS
    • 55-5-112. Transfer of letter of credit.
      • ANNOTATIONS
    • 55-5-113. Transfer by operation of law.
      • ANNOTATIONS
    • 55-5-114. Assignment of proceeds.
      • ANNOTATIONS
    • 55-5-115. Statute of limitations.
      • ANNOTATIONS
    • 55-5-116. Choice of law and forum.
      • ANNOTATIONS
    • 55-5-117. Subrogation of issuer, applicant and nominated person.
      • ANNOTATIONS
    • 55-5-118. Security interest of issuer or nominated person.
      • ANNOTATIONS
  • ARTICLE 6 Bulk Transfers
    • 55-6-101 to 55-6-110. Repealed.
      • ANNOTATIONS
  • ARTICLE 7 Warehouse Receipts, Bills of Lading and Other Documents of Title
    • PART 1 GENERAL
      • 55-7-101. Short title.
        • ANNOTATIONS
      • 55-7-102. Definitions and index of definitions.
        • ANNOTATIONS
      • 55-7-103. Relation of article to treaty, statute, tariff, classification or regulation.
        • ANNOTATIONS
      • 55-7-104. Negotiable and nonnegotiable warehouse receipt, bill of lading or other document of title.
        • ANNOTATIONS
      • 55-7-105. Construction against negative implication.
        • ANNOTATIONS
    • PART 2 WAREHOUSE RECEIPTS; SPECIAL PROVISIONS
      • 55-7-201. Who may issue a warehouse receipt; storage under government bond.
        • ANNOTATIONS
      • 55-7-202. Form of warehouse receipt; essential terms; optional terms.
        • ANNOTATIONS
      • 55-7-203. Liability for nonreceipt or misdescription.
        • ANNOTATIONS
      • 55-7-204. Duty of care; contractual limitation of warehouseman's liability.
        • ANNOTATIONS
      • 55-7-205. Title under warehouse receipt defeated in certain cases.
        • ANNOTATIONS
      • 55-7-206. Termination of storage at warehouseman's option.
        • ANNOTATIONS
      • 55-7-207. Goods must be kept separate; fungible goods.
        • ANNOTATIONS
      • 55-7-208. Altered warehouse receipts.
        • ANNOTATIONS
      • 55-7-209. Lien of warehouseman.
        • ANNOTATIONS
      • 55-7-210. Enforcement of warehouseman's lien.
        • ANNOTATIONS
    • PART 3 BILLS OF LADING; SPECIAL PROVISIONS
      • 55-7-301. Liability for nonreceipt or misdescription; "said to contain"; "shipper's load and count"; improper handling.
        • ANNOTATIONS
      • 55-7-302. Through bills of lading and similar documents.
        • ANNOTATIONS
      • 55-7-303. Diversion; reconsignment; change of instructions.
        • ANNOTATIONS
      • 55-7-304. Bills of lading in a set.
        • ANNOTATIONS
      • 55-7-305. Destination bills.
        • ANNOTATIONS
      • 55-7-306. Altered bills of lading.
        • ANNOTATIONS
      • 55-7-307. Lien of carrier.
        • ANNOTATIONS
      • 55-7-308. Enforcement of carrier's lien.
        • ANNOTATIONS
      • 55-7-309. Duty of care; contractual limitation of carrier's liability.
        • ANNOTATIONS
    • PART 4 WAREHOUSE RECEIPTS AND BILLS OF LADING; GENERAL OBLIGATIONS
      • 55-7-401. Irregularities in issue of receipt or bill or conduct of issuer.
        • ANNOTATIONS
      • 55-7-402. Duplicate receipt or bill; overissue.
        • ANNOTATIONS
      • 55-7-403. Obligation of warehouseman or carrier to deliver; excuse.
        • ANNOTATIONS
      • 55-7-404. No liability for good faith delivery pursuant to receipt or bill.
        • ANNOTATIONS
    • PART 5 WAREHOUSE RECEIPTS AND BILLS OF LADING; NEGOTIATION AND TRANSFER
      • 55-7-501. Form of negotiation and requirements of "due negotiation.".
        • ANNOTATIONS
      • 55-7-502. Rights acquired by due negotiation.
        • ANNOTATIONS
      • 55-7-503. Document of title to goods defeated in certain cases.
        • ANNOTATIONS
      • 55-7-504. Rights acquired in the absence of due negotiation; effect of diversion; seller's stoppage of delivery.
        • ANNOTATIONS
      • 55-7-505. Indorser not a guarantor for other parties.
        • ANNOTATIONS
      • 55-7-506. Delivery without indorsement; right to compel indorsement.
        • ANNOTATIONS
      • 55-7-507. Warranties on negotiation or transfer of receipt or bill.
        • ANNOTATIONS
      • 55-7-508. Warranties of collecting bank as to documents.
        • ANNOTATIONS
      • 55-7-509. Receipt or bill; when adequate compliance with commercial contract.
        • ANNOTATIONS
    • PART 6 WAREHOUSE RECEIPTS AND BILLS OF LADING; MISCELLANEOUS PROVISIONS
      • 55-7-601. Lost and missing documents.
        • ANNOTATIONS
      • 55-7-602. Attachment of goods covered by a negotiable document.
        • ANNOTATIONS
      • 55-7-603. Conflicting claims; interpleader.
        • ANNOTATIONS
    • PART 7 WAREHOUSE RECEIPTS; SPECIAL PENALTY PROVISIONS
      • 55-7-701. Issue of receipt for goods not received.
        • ANNOTATIONS
      • 55-7-702. Issue of receipt containing false statement.
      • 55-7-703. Issue of duplicate receipts not so marked.
        • ANNOTATIONS
      • 55-7-704. Issue for warehouseman's goods of receipts which do not state that fact.
      • 55-7-705. Delivery of goods without obtaining negotiable receipt.
        • ANNOTATIONS
      • 55-7-706. Negotiation of receipt for goods subject to a security interest.
    • PART 8 BILLS OF LADING; SPECIAL PENALTY PROVISIONS
      • 55-7-801. Issue of bill for goods not received.
        • ANNOTATIONS
      • 55-7-802. Issue of bill containing false statement.
      • 55-7-803. Issue of duplicate bills not so marked.
        • ANNOTATIONS
      • 55-7-804. Negotiation of bill for goods subject to a security interest.
      • 55-7-805. Negotiation of bill when goods are not in carrier's possession.
        • ANNOTATIONS
      • 55-7-806. Inducing carrier to issue bill when goods have not been received.
      • 55-7-807. Issue of nonnegotiable bill not so marked.
  • ARTICLE 8 Investment Securities
    • ANNOTATIONS
    • PART 1 SHORT TITLE AND GENERAL MATTERS
      • 55-8-101. Short title.
        • ANNOTATIONS
      • 55-8-102. Definitions.
        • ANNOTATIONS
      • 55-8-103. Rules for determining whether certain obligations and interests are securities or financial assets.
        • ANNOTATIONS
      • 55-8-104. Acquisition of security or financial asset or interest therein.
        • ANNOTATIONS
      • 55-8-105. Notice of adverse claim.
        • ANNOTATIONS
      • 55-8-106. Control.
        • ANNOTATIONS
      • 55-8-107. Whether indorsement, instruction or entitlement order is effective.
        • ANNOTATIONS
      • 55-8-108. Warranties in direct holding.
        • ANNOTATIONS
      • 55-8-109. Warranties in indirect holding.
        • ANNOTATIONS
      • 55-8-110. Applicability; choice of law.
        • ANNOTATIONS
      • 55-8-111. Clearing corporation rules.
        • ANNOTATIONS
      • 55-8-112. Creditor's legal process.
        • ANNOTATIONS
      • 55-8-113. Statute of frauds inapplicable.
        • ANNOTATIONS
      • 55-8-114. Evidentiary rules concerning certificated securities.
        • ANNOTATIONS
      • 55-8-115. Securities intermediary and others not liable to adverse claimant.
        • ANNOTATIONS
      • 55-8-116. Securities intermediary as purchaser for value.
        • ANNOTATIONS
    • PART 2 ISSUE AND ISSUER
      • 55-8-201. Issuer.
        • ANNOTATIONS
      • 55-8-202. Issuer's responsibility and defenses; notice of defect or defense.
        • ANNOTATIONS
      • 55-8-203. Staleness as notice of defect or defense.
        • ANNOTATIONS
      • 55-8-204. Effect of issuer's restriction on transfer.
        • ANNOTATIONS
      • 55-8-205. Effect of unauthorized signature on security certificate.
        • ANNOTATIONS
      • 55-8-206. Completion or alteration of security certificate.
        • ANNOTATIONS
      • 55-8-207. Rights and duties of issuer with respect to registered owners.
        • ANNOTATIONS
      • 55-8-208. Effect of signature of authenticating trustee, registrar or transfer agent.
        • ANNOTATIONS
      • 55-8-209. Issuer's lien.
        • ANNOTATIONS
      • 55-8-210. Overissue.
        • ANNOTATIONS
    • PART 3 TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
      • 55-8-301. Delivery.
        • ANNOTATIONS
      • 55-8-302. Rights of purchaser.
        • ANNOTATIONS
      • 55-8-303. Protected purchaser.
        • ANNOTATIONS
      • 55-8-304. Indorsement.
        • ANNOTATIONS
      • 55-8-305. Instruction.
        • ANNOTATIONS
      • 55-8-306. Effect of guaranteeing signature, indorsement or instruction.
        • ANNOTATIONS
      • 55-8-307. Purchaser's right to requisites for registration of transfer.
        • ANNOTATIONS
      • 55-8-308 to 55-8-321. Repealed.
        • ANNOTATIONS
    • PART 4 REGISTRATION
      • 55-8-401. Duty of issuer to register transfer.
        • ANNOTATIONS
      • 55-8-402. Assurance that indorsement or instruction is effective.
        • ANNOTATIONS
      • 55-8-403. Demand that issuer not register transfer.
        • ANNOTATIONS
      • 55-8-404. Wrongful registration.
        • ANNOTATIONS
      • 55-8-405. Replacement of lost, destroyed or wrongfully taken security certificate.
        • ANNOTATIONS
      • 55-8-406. Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate.
        • ANNOTATIONS
      • 55-8-407. Authenticating trustee, transfer agent and registrar.
        • ANNOTATIONS
      • 55-8-408. Repealed.
        • ANNOTATIONS
    • PART 5 SECURITY ENTITLEMENTS
      • 55-8-501. Securities account; acquisition of security entitlement from securities intermediary.
        • ANNOTATIONS
      • 55-8-502. Assertion of adverse claim against entitlement holder.
        • ANNOTATIONS
      • 55-8-503. Property interest of entitlement holder in financial asset held by securities intermediary.
        • ANNOTATIONS
      • 55-8-504. Duty of securities intermediary to maintain financial asset.
        • ANNOTATIONS
      • 55-8-505. Duty of securities intermediary with respect to payments and distributions.
        • ANNOTATIONS
      • 55-8-506. Duty of securities intermediary to exercise rights as directed by entitlement holder.
        • ANNOTATIONS
      • 55-8-507. Duty of securities intermediary to comply with entitlement order.
        • ANNOTATIONS
      • 55-8-508. Duty of securities intermediary to change entitlement holder's position to other form of security holding.
        • ANNOTATIONS
      • 55-8-509. 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.
        • ANNOTATIONS
      • 55-8-510. Rights of purchaser of security entitlement from entitlement holder.
        • ANNOTATIONS
      • 55-8-511. Priority among security interests and entitlement holders.
        • ANNOTATIONS
  • ARTICLE 9 Secured Transactions
    • ANNOTATIONS
    • PART 1 GENERAL PROVISIONS
      • SUBPART 1. SHORT TITLE, DEFINITIONS, AND GENERALCONCEPTS
        • 55-9-101. Short title.
          • ANNOTATIONS
        • 55-9-102. Definitions and index of definitions.
          • ANNOTATIONS
        • 55-9-103. Purchase-money security interest; application of payments; burden of establishing.
          • ANNOTATIONS
        • 55-9-104. Control of deposit account.
          • ANNOTATIONS
        • 55-9-105. Control of electronic chattel paper.
          • ANNOTATIONS
        • 55-9-106. Control of investment property.
          • ANNOTATIONS
        • 55-9-107. Control of letter-of-credit right.
          • ANNOTATIONS
        • 55-9-108. Sufficiency of description.
          • ANNOTATIONS
      • SUBPART 2. APPLICABILITY OF ARTICLE
        • 55-9-109. Scope.
          • ANNOTATIONS
        • 55-9-110. Security interests arising under Chapter 55, Article 2 or 2A NMSA 1978.
          • ANNOTATIONS
        • 55-9-111. Repealed.
          • ANNOTATIONS
        • 55-9-112. Superseded.
          • ANNOTATIONS
        • 55-9-113. Superseded.
          • ANNOTATIONS
        • 55-9-114. Superseded.
          • ANNOTATIONS
        • 55-9-115. Superseded.
          • ANNOTATIONS
        • 55-9-116. Superseded.
          • ANNOTATIONS
    • PART 2 EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT
      • SUBPART 1. EFFECTIVENESS AND ATTACHMENT
        • 55-9-201. General effectiveness of security agreement.
          • ANNOTATIONS
        • 55-9-202. Title to collateral immaterial.
          • ANNOTATIONS
        • 55-9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
          • ANNOTATIONS
        • 55-9-204. After-acquired property; future advances.
          • ANNOTATIONS
            • I. GENERAL CONSIDERATION.
            • II. AGREEMENT TO ATTACH.
            • III. VALUE GIVEN.
            • IV. DEBTOR RIGHTS IN COLLATERAL.
        • 55-9-205. Use or disposition of collateral permissible.
          • ANNOTATIONS
        • 55-9-206. Security interest arising in purchase or delivery of financial asset.
          • ANNOTATIONS
      • SUBPART 2. RIGHTS AND DUTIES
        • 55-9-207. Rights and duties of secured party having possession or control of collateral.
          • ANNOTATIONS
        • 55-9-208. Additional duties of secured party having control of collateral.
          • ANNOTATIONS
        • 55-9-209. Duties of secured party if account debtor has been notified of assignment.
          • ANNOTATIONS
        • 55-9-210. Request for accounting; request regarding list of collateral or statement of account.
          • ANNOTATIONS
    • PART 3 PERFECTION AND PRIORITY
      • SUBPART 1. LAW GOVERNING PERFECTION AND PRIORITY
        • 55-9-301. Law governing perfection and priority of security interests.
          • ANNOTATIONS
        • 55-9-302. Law governing perfection and priority of agricultural liens.
          • ANNOTATIONS
        • 55-9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title.
          • ANNOTATIONS
        • 55-9-304. Law governing perfection and priority of security interests in deposit accounts.
          • ANNOTATIONS
        • 55-9-305. Law governing perfection and priority of security interests in investment property.
          • ANNOTATIONS
        • 55-9-306. Law governing perfection and priority of security interests in letter-of-credit rights.
          • ANNOTATIONS
        • 55-9-307. Location of debtor.
          • ANNOTATIONS
      • SUBPART 2. PERFECTION
        • 55-9-308. When security interest or agricultural lien is perfected; continuity of perfection.
          • ANNOTATIONS
        • 55-9-309. Security interest perfected upon attachment.
          • ANNOTATIONS
        • 55-9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
          • ANNOTATIONS
        • 55-9-311. Perfection of security interests in property subject to certain statutes, regulations and treaties.
          • ANNOTATIONS
        • 55-9-312. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.
          • ANNOTATIONS
        • 55-9-313. When possession by or delivery to secured party perfects security interest without filing.
          • ANNOTATIONS
        • 55-9-314. Perfection by control.
          • ANNOTATIONS
        • 55-9-315. Secured party's rights on disposition of collateral and in proceeds.
          • ANNOTATIONS
            • I. GENERAL CONSIDERATION.
            • II. CONTINUITY OF SECURITY INTEREST IN COLLATERAL AND PROCEEDS.
        • 55-9-316. Continued perfection of security interest following change in governing law.
          • ANNOTATIONS
      • SUBPART 3. PRIORITY
        • 55-9-317. Interests that take priority over or take free of security interest or agricultural lien.
          • ANNOTATIONS
        • 55-9-318. 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.
          • ANNOTATIONS
        • 55-9-319. Rights and title of consignee with respect to creditors and purchasers.
          • ANNOTATIONS
        • 55-9-320. Buyer of goods.
          • ANNOTATIONS
        • 55-9-321. Licensee of general intangible and lessee of goods in ordinary course of business.
          • ANNOTATIONS
        • 55-9-322. Priorities among conflicting security interests in and agricultural liens on same collateral.
          • ANNOTATIONS
        • 55-9-323. Future advances.
          • ANNOTATIONS
        • 55-9-324. Priority of purchase-money security interests.
          • ANNOTATIONS
        • 55-9-325. Priority of security interests in transferred collateral.
          • ANNOTATIONS
        • 55-9-326. Priority of security interests created by new debtor.
          • ANNOTATIONS
        • 55-9-327. Priority of security interests in deposit account.
          • ANNOTATIONS
        • 55-9-328. Priority of security interests in investment property.
          • ANNOTATIONS
        • 55-9-329. Priority of security interests in letter-of-credit right.
          • ANNOTATIONS
        • 55-9-330. Priority of purchaser of chattel paper or instrument.
          • ANNOTATIONS
        • 55-9-331. Priority of rights of purchasers of instruments, documents and securities under other articles; priority of interests in financial assets and security entitlements under Chapter
          • ANNOTATIONS
        • 55-9-332. Transfer of money; transfer of funds from deposit account.
          • ANNOTATIONS
        • 55-9-333. Priority of certain liens arising by operation of law.
          • ANNOTATIONS
        • 55-9-334. Priority of security interests in fixtures.
          • ANNOTATIONS
        • 55-9-335. Accessions.
          • ANNOTATIONS
        • 55-9-336. Commingled goods.
          • ANNOTATIONS
        • 55-9-337. Priority of security interests in goods covered by certificate of title.
          • ANNOTATIONS
        • 55-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
          • ANNOTATIONS
        • 55-9-339. Priority subject to subordination.
          • ANNOTATIONS
      • SUBPART 4. RIGHTS OF BANK
        • 55-9-340. Effectiveness of right of recoupment or set-off against deposit account.
          • ANNOTATIONS
        • 55-9-341. Bank's rights and duties with respect to deposit account.
          • ANNOTATIONS
        • 55-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.
          • ANNOTATIONS
    • PART 4 RIGHTS OF THIRD PARTIES
      • 55-9-401. Alienability of debtor's rights.
        • ANNOTATIONS
      • 55-9-402. Secured party not obligated on contract of debtor or in tort.
        • ANNOTATIONS
      • 55-9-403. Agreement not to assert defenses against assignee.
        • ANNOTATIONS
      • 55-9-404. Rights acquired by assignee; claims and defenses against assignee.
        • ANNOTATIONS
      • 55-9-405. Modification of assigned contract.
        • ANNOTATIONS
      • 55-9-406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective.
        • ANNOTATIONS
      • 55-9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
        • ANNOTATIONS
      • 55-9-408. Restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective.
        • ANNOTATIONS
      • 55-9-409. Restrictions on assignment of letter-of-credit rights ineffective.
        • ANNOTATIONS
    • PART 5 FILING
      • SUBPART 1. FILING OFFICE; CONTENTS AND EFFECTIVENESSOF FINANCING STATEMENT
        • 55-9-501. Filing office.
          • ANNOTATIONS
        • 55-9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
          • ANNOTATIONS
        • 55-9-503. Name of debtor and secured party.
          • ANNOTATIONS
        • 55-9-504. Indication of collateral.
          • ANNOTATIONS
        • 55-9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions.
          • ANNOTATIONS
        • 55-9-506. Effect of errors or omissions.
          • ANNOTATIONS
        • 55-9-507. Effect of certain events on effectiveness of financing statement.
          • ANNOTATIONS
        • 55-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.
          • ANNOTATIONS
        • 55-9-509. Persons entitled to file a record.
          • ANNOTATIONS
        • 55-9-510. Effectiveness of filed record.
          • ANNOTATIONS
        • 55-9-511. Secured party of record.
          • ANNOTATIONS
        • 55-9-512. Amendment of financing statement.
          • ANNOTATIONS
        • 55-9-513. Termination statement.
          • ANNOTATIONS
        • 55-9-514. Assignment of powers of secured party of record.
          • ANNOTATIONS
        • 55-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement.
          • ANNOTATIONS
        • 55-9-516. What constitutes filing; effectiveness of filing.
          • ANNOTATIONS
        • 55-9-517. Effect of indexing errors.
          • ANNOTATIONS
        • 55-9-518. Claim concerning inaccurate or wrongfully filed record.
          • ANNOTATIONS
      • SUBPART 2. DUTIES AND OPERATION OF FILING OFFICE
        • 55-9-519. Numbering, maintaining and indexing records; communicating information provided in records.
          • ANNOTATIONS
        • 55-9-520. Acceptance and refusal to accept record.
          • ANNOTATIONS
        • 55-9-521. Form of financing statement and amendment; records.
          • ANNOTATIONS
        • 55-9-522. Maintenance and destruction of records.
          • ANNOTATIONS
        • 55-9-523. Information from secretary of state.
          • ANNOTATIONS
        • 55-9-524. Delay by secretary of state.
          • ANNOTATIONS
        • 55-9-525. Fees.
          • ANNOTATIONS
        • 55-9-526. Filing-office rules.
          • ANNOTATIONS
    • PART 6 DEFAULT
      • SUBPART 1. DEFAULT AND ENFORCEMENT OF SECURITYINTEREST
        • 55-9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes.
          • ANNOTATIONS
        • 55-9-602. Waiver and variance of rights and duties.
          • ANNOTATIONS
        • 55-9-603. Agreement on standards concerning rights and duties.
          • ANNOTATIONS
        • 55-9-604. Procedure if security agreement covers real property or fixtures.
          • ANNOTATIONS
        • 55-9-605. Unknown debtor or secondary obligor.
          • ANNOTATIONS
        • 55-9-606. Time of default for agricultural lien.
          • ANNOTATIONS
        • 55-9-607. Collection and enforcement by secured party.
          • ANNOTATIONS
        • 55-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
          • ANNOTATIONS
        • 55-9-609. Secured party's right to take possession after default.
          • ANNOTATIONS
        • 55-9-610. Disposition of collateral after default.
          • ANNOTATIONS
            • I. GENERAL CONSIDERATION.
            • II. LIABILITY FOR SURPLUS OR DEFICIENCY.
            • III. DISPOSITION OF COLLATERAL.
        • 55-9-611. Notification before disposition of collateral.
          • ANNOTATIONS
        • 55-9-612. Timeliness of notification before disposition of collateral.
          • ANNOTATIONS
        • 55-9-613. Contents and form of notification before disposition of collateral; general.
          • ANNOTATIONS
        • 55-9-614. Contents and form of notification before disposition of collateral; consumer-goods transaction.
          • ANNOTATIONS
        • 55-9-615. Application of proceeds of disposition; liability for deficiency and right to surplus.
          • ANNOTATIONS
        • 55-9-616. Explanation of calculation of surplus or deficiency.
          • ANNOTATIONS
        • 55-9-617. Rights of transferee of collateral.
          • ANNOTATIONS
        • 55-9-618. Rights and duties of certain secondary obligors.
          • ANNOTATIONS
        • 55-9-619. Transfer of record or legal title.
          • ANNOTATIONS
        • 55-9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
          • ANNOTATIONS
        • 55-9-621. Notification of proposal to accept collateral.
          • ANNOTATIONS
        • 55-9-622. Effect of acceptance of collateral.
          • ANNOTATIONS
        • 55-9-623. Right to redeem collateral.
          • ANNOTATIONS
        • 55-9-624. Waiver.
          • ANNOTATIONS
      • SUBPART 2. NONCOMPLIANCE WITH ARTICLE
        • 55-9-625. Remedies for secured party's failure to comply with article.
          • ANNOTATIONS
        • 55-9-626. Action in which deficiency or surplus is in issue.
          • ANNOTATIONS
        • 55-9-627. Determination of whether conduct was commercially reasonable.
          • ANNOTATIONS
        • 55-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.
          • ANNOTATIONS
    • PART 7 TRANSITION
      • 55-9-701. Effective date.
        • ANNOTATIONS
      • 55-9-702. Saving clause.
        • ANNOTATIONS
      • 55-9-703. Temporary transition provision; security interest perfected before effective date.
        • ANNOTATIONS
      • 55-9-704. Temporary transition provision; security interest unperfected before effective date.
        • ANNOTATIONS
      • 55-9-705. Temporary transition provision; effectiveness of action taken before effective date.
        • ANNOTATIONS
      • 55-9-706. Temporary transition provision; when initial financing statement suffices to continue effectiveness of financing statement.
        • ANNOTATIONS
      • 55-9-707. Temporary transition provision; amendment of pre-effective-date financing statement.
        • ANNOTATIONS
      • 55-9-708. Temporary transition provision; persons entitled to file initial financing statement or continuation statement.
        • ANNOTATIONS
      • 55-9-709. Temporary transition provision; priority.
        • ANNOTATIONS
      • 55-9-710. Temporary transition provision; certain records of county clerks.
        • ANNOTATIONS
  • ARTICLE 10 Effective Date, Repealer and Miscellaneous
    • ANNOTATIONS
  • ARTICLE 11 Amendment to Other Statutes
    • ANNOTATIONS
  • ARTICLE 12 Effective Date and Transition Provisions
    • 55-12-101. Effective date; ["old U.C.C." and "new U.C.C." defined]
      • ANNOTATIONS
    • 55-12-102. Preservation of old transition provision.
      • ANNOTATIONS
    • 55-12-103. Transition to new U.C.C.; general rule.
      • ANNOTATIONS
    • 55-12-104. Transition provision on change of requirement of filing.
      • ANNOTATIONS
    • 55-12-105. Transition provision on change of place of filing.
      • ANNOTATIONS
    • 55-12-106. Required refilings.
      • ANNOTATIONS
    • 55-12-107. Transition provisions as to priorities.
      • ANNOTATIONS
    • 55-12-108. Presumption that rule of law continues unchanged.
      • ANNOTATIONS
    • 55-12-109. Saving clause.
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Historical New Mexico Statutes Annotated 1978

Decision Information

Chapter 55 - Uniform Commercial Code (2004)

Collection Historical New Mexico Statutes Annotated 1978
File Number Chapter 55 NMSA 1978

Decision Content

Footnotes