Copyright 2000 by the Texas Tech Law School
Foundation
CHAPTER 9. SECURED TRANSACTIONS; SALES OF ACCOUNTS AND
CHATTEL PAPER
Sec. 9.302. When Filing is Required to Perfect
Security Interest; Security Interests to Which Filing Provisions of This
Article Do Not Apply.
Sec. 9.302. When Filing is Required to Perfect Security Interest; Security Interests to Which Filing Provisions of This Article Do Not Apply.
(a) A financing statement must be
filed to perfect all security interests except the following:
(1) a security interest in collateral in
possession of the secured party under Section 9.305;
(2) a security interest temporarily perfected in
instruments, certificated securities, or documents without delivery
under Section 9.304 or in proceeds for a 10 day
period under Section 9.306;
(3) a security interest created by an assignment of a
beneficial interest in a trust or a decedent's estate;
(4) a purchase money security interest in consumer
goods; but notation on a certificate of title is required for goods
covered by a statute referred to in Subsection (c)(2); and fixture
filing is required for priority over conflicting interests in fixtures
to the extent provided in Section 9.313;
(5) an assignment of accounts which does not alone or
in conjunction with other assignments to the same assignee transfer a
significant part of the outstanding accounts of the assignor;
(6) a security interest of a collecting bank (Section
4.210), a security interest arising under
the Chapter on Sales (see Section 9.113), or a
security interest covered in Subsection (c) of this Section;
(7) an assignment for the benefit of all the creditors
of the transferor, and subsequent transfers by the assignee
thereunder;
(8) a security interest in oil or gas production or
their proceeds under Section 9.319 of this code;
or
(9) a security interest in investment property that is
perfected without filing under Section 9.115 or 9.116.
(b) If a secured party assigns a
perfected security interest, no filing under this Chapter is required in
order to continue the perfected status of the security interest against
creditors of and transferees from the original debtor.
(c) The filing of a financing
statement otherwise required by this Chapter is not necessary or
effective to perfect a security interest in property subject to:
(1) a statute or treaty of the United States which
provides for a national or international registration or a national or
international certificate of title or which specifies a place of filing
different from that specified in this Chapter for filing of the security
interest; or
(2) the following statutes of this state: Chapter 501,
Transportation Code; Subchapter B-1, Chapter 31, Parks and Wildlife
Code, as amended, relating to the certificates of title for motorboat
and outboard motors; the Texas Manufactured Housing Standards Act, as
amended (Article 5221f, Vernon's Texas Civil Statutes); but during any
period in which collateral is inventory held for sale by a person who is
in the business of selling goods of that kind, the filing provisions of
this Chapter (Subchapter D) apply to a security interest in that
collateral created by him as debtor; or Subchapter A, Chapter 35, Title
4, relating to utility security instruments; or
(3) a certificate of title statute of another
jurisdiction under the law of which indication of a security interest on
the certificate is required as a condition of perfection (Subsection (b) of Section 9.103).
(d) Compliance with a statute or
treaty described in Subsection (c) is equivalent to the filing of a
financing statement under this Chapter, and a security interest in
property subject to the statute or treaty can be perfected only by
compliance therewith except as provided in Section 9.103 on multiple state transactions. Duration and
renewal of perfection of a security interest perfected by compliance
with the statute or treaty are governed by the provisions of the statute
or treaty; in other respects the security interest is subject to this
Chapter.