Sec. 42a-9-307. Location of debtor.
Sec. 42a-9-307. Location of debtor. (a) In this section, "place of business" means
a place where a debtor conducts its affairs.
(b) Except as otherwise provided in this section, the following rules determine a
debtor's location:
(1) A debtor who is an individual is located at the individual's principal residence.
(2) A debtor that is an organization and has only one place of business is located
at its place of business.
(3) A debtor that is an organization and has more than one place of business is
located at its chief executive office.
(c) Subsection (b) applies only if a debtor's residence, place of business or chief
executive office, as applicable, is located in a jurisdiction whose law generally requires
information concerning the existence of a nonpossessory security interest to be made
generally available in a filing, recording or registration system as a condition or result
of the security interest's obtaining priority over the rights of a lien creditor with respect
to the collateral. If subsection (b) does not apply, the debtor is located in the District of
Columbia.
(d) A person that ceases to exist, have a residence or have a place of business continues to be located in the jurisdiction specified by subsections (b) and (c).
(e) A registered organization that is organized under the law of a state is located in
that state.
(f) Except as otherwise provided in subsection (i), a registered organization that is
organized under the law of the United States and a branch or agency of a bank that is
not organized under the law of the United States or a state are located:
(1) In the state that the law of the United States designates, if the law designates a
state of location;
(2) In the state that the registered organization, branch or agency designates, if the
law of the United States authorizes the registered organization, branch or agency to
designate its state of location; or
(3) In the District of Columbia, if neither subdivision (1) nor subdivision (2) applies.
(g) A registered organization continues to be located in the jurisdiction specified
by subsection (e) or (f) notwithstanding:
(1) The suspension, revocation, forfeiture or lapse of the registered organization's
status as such in its jurisdiction of organization; or
(2) The dissolution, winding up or cancellation of the existence of the registered
organization.
(h) The United States is located in the District of Columbia.
(i) A branch or agency of a bank that is not organized under the law of the United
States or a state is located in the state in which the branch or agency is licensed, if all
branches and agencies of the bank are licensed in only one state.
(j) A foreign air carrier under the Federal Aviation Act of 1958, as amended, is
located at the designated office of the agent upon which service of process may be made
on behalf of the carrier.
(k) This section applies only for purposes of this part.
(1959, P.A. 133, S. 9-307; P.A. 76-369, S. 23; P.A. 01-132, S. 27.)
History: P.A. 76-369 removed purchase of farm equipment with original purchase price of $2500 or less other than
fixtures from purview of Subsec. (2) and added Subsec. (3); P.A. 01-132 replaced former provisions re when a buyer takes
free of a security interest with provisions re rules determining a debtor's location.