Tennessee § 47-9-309 - Security interest perfected upon attachment.

§ 47-9-309. Security interest perfected upon attachment.

The following security interests are perfected when they attach: a purchase-money security interest in consumer goods, except as otherwise provided in § 47-9-311(b) with respect to consumer goods that are subject to a statute or treaty described in § 47-9-311(a); an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles; a sale of a payment intangible; a sale of a promissory note; a security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services; a security interest arising under § 47-2-401, § 47-2-505, § 47-2-711(3), or § 47-2A-508(5), until the debtor obtains possession of the collateral; a security interest of a collecting bank arising under § 47-4-210; a security interest of an issuer or nominated person arising under § 47-5-118; a security interest arising in the delivery of a financial asset under § 47-9-206(c); a security interest in investment property created by a broker or securities intermediary; a security interest in a commodity contract or a commodity account created by a commodity intermediary; an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and a security interest created by an assignment of a beneficial interest in a decedent's estate. Acts 2000, ch. 846, § 1. Compiler's Notes. Former part 3, §§ 47-9-301 — 47-9-318 (Acts 1963, ch. 81, § 1 (9-301 — 9-318); 1965, ch. 86, § 1; 1967, ch. 318, § 1; 1978, ch. 773, §§ 1, 2; 1979, ch. 283, §§ 1, 2; 1983, ch. 114, §§ 1, 3[2]; 1985, ch. 404, §§ 13-22; 1986, ch. 737, §§ 48-52; 1987, ch. 102, § 1; 1997, ch. 79, §§ 7-14; 1998, ch. 675, §§ 10-12) was repealed and replaced in the revision of chapter 9 of the Uniform Commercial Code by Acts 2000, ch. 846, § 1, effective July 1, 2001. Cross-References. Registration of instruments, § 66-24-101 — 66-24-112 . Transition provisions, title 47, ch. 9, part 7. Prior Tennessee Law: §§ 47-1009, 47-1301, 47-1802, 64-901, 64-1806. Textbooks. Tennessee Jurisprudence, 4 Tenn. Juris., Automobiles, § 24; 4 Tenn. Juris., Bankruptcy, § 6; 6 Tenn. Juris., Commercial Law, §§ 98, 99, 102, 103; 18 Tenn. Juris., Liens, § 3. Law Reviews. Creation, Perfection, and Enforcement of Security Interest Under the “Tennessee” Commercial Code (John A. Walker, Jr.), 48 Tenn. L. Rev. 819 (1981). Priorities in Accounts: The Crazy Quilt of Current Law and a Proposal for Reform (Dan T. Coenen), 45 Vand. L. Rev. 1061 (1992).