Jurisdictional Rules Flashcards
1
Q
Jurisdiction over Perfection - General
A
law of the state where the debtor is located.
individual = principal residence
registered organization = state or incorporation
unregistered org = place of business or Chief executive office if more than 1 place of business
2
Q
Exceptions to general perfection jurisdiction
A
1) possessory SI’s and fixtures - state where located
2) goods covered by certificate of title - state issuing most recent certicicaiton
3) deposit accounts - state where bank has chief executive office
4) agricultural liens - state where farm product is located
3
Q
Movement of debtor
A
still use old state for 4 months or until lapses
4
Q
New debtor in different state
A
if transferred then stay in old state for 1 year.
5
Q
Other collateral
A
4 Months
