Sec. 42a-9-301. Law governing perfection and priority of security interests.
Sec. 42a-9-301. Law governing perfection and priority of security interests.
Except as otherwise provided in sections 42a-9-303 to 42a-9-306, inclusive, the following rules determine the law governing perfection, the effect of perfection or nonperfection and the priority of a security interest in collateral:
(1) Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or
nonperfection and the priority of a security interest in collateral.
(2) While collateral is located in a jurisdiction, the local law of that jurisdiction
governs perfection, the effect of perfection or nonperfection and the priority of a possessory security interest in that collateral.
(3) Except as otherwise provided in subdivision (4) of this section, while tangible
negotiable documents, goods, instruments, money or tangible chattel paper is located
in a jurisdiction, the local law of that jurisdiction governs:
(A) Perfection of a security interest in the goods by filing a fixture filing;
(B) Perfection of a security interest in timber to be cut; and
(C) The effect of perfection or nonperfection and the priority of a nonpossessory
security interest in the collateral.
(4) The local law of the jurisdiction in which the wellhead or minehead is located
governs perfection, the effect of perfection or nonperfection and the priority of a security
interest in as-extracted collateral.
(1959, P.A. 133, S. 9-301; P.A. 76-369, S. 17; P.A. 93-21, S. 1; P.A. 97-182, S. 58; P.A. 01-132, S. 21; P.A. 04-64, S. 65.)
History: P.A. 76-369 added reference to buyers of farm products in Subsec. (1)(c), deleted reference to contract rights
in Subsec. (1)(d), deleted provision in Subsec. (3) which stated "Unless all the creditors represented had knowledge of the
security interest such a representative of creditors is a lien creditor without knowledge even though he personally has
knowledge of the security interest", added Subsec. (4), and changed wording slightly in Subsecs. (1)(a) and (2) for clarity;
P.A. 93-21 amended Subsec. (2) to increase the number of days from 10 to 20 in which the filing of the purchase money
security interest is made after the debtor receives possession of the collateral; P.A. 97-182 amended Subsec. (1)(d) to add
"investment property"; P.A. 01-132 replaced former provisions re persons who take priority over an unperfected security
interest and when a person who becomes a lien creditor takes subject to the security interest with provisions re the law
governing perfection, the effect of perfection or nonperfection and the priority of a security interest in collateral; P.A. 04-64 amended Subdiv. (3) by making a technical change and adding reference to "tangible" negotiable documents to conform
to revisions made to article 7 by the same act.
Annotation to former section 42a-9-103a(3):
Auto brought into Connecticut with perfected interest has perfected interest for four months without filing. 6 Conn.
Cir. Ct. 499.