70A-9a-308. When security interest or agricultural lien is perfected -- Continuity of
perfection.
(1) Except as otherwise provided in this section and Section 70A-9a-309, a security
interest is perfected if it has attached and all of the applicable requirements for perfection in
Sections 70A-9a-310 through 70A-9a-316 have been satisfied. A security interest is perfected
when it attaches if the applicable requirements are satisfied before the security interest attaches.
(2) An agricultural lien is perfected if it has become effective and all of the applicable
requirements for perfection in Section 70A-9a-310 have been satisfied. An agricultural lien is
perfected when it becomes effective if the applicable requirements are satisfied before the
agricultural lien becomes effective.
(3) 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.
(4) Perfection of a security interest in collateral also perfects a security interest in a
supporting obligation for the collateral.
(5) 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.
(6) Perfection of a security interest in a securities account also perfects a security interest
in the security entitlements carried in the securities account.
(7) Perfection of a security interest in a commodity account also perfects a security
interest in the commodity contracts carried in the commodity account.
Enacted by Chapter 252, 2000 General Session
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Last revised: Thursday, May 28, 2009