Sec. 42a-9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions.
Sec. 42a-9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions. (a) A consignor, lessor
or other bailor of goods, a licensor or a buyer of a payment intangible or promissory
note may file a financing statement, or may comply with a statute or treaty described in
subsection (a) of section 42a-9-311, using the terms "consignor", "consignee", "lessor",
"lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner",
"buyer", "seller" or words of similar import, instead of the terms "secured party" and
"debtor".
(b) This part applies to the filing of a financing statement under subsection (a) and,
as appropriate, to compliance that is equivalent to filing a financing statement under
subsection (b) of section 42a-9-311, but the filing or compliance is not of itself a factor
in determining whether the collateral secures an obligation. If it is determined for another
reason that the collateral secures an obligation, a security interest held by the consignor,
lessor, bailor, licensor, owner or buyer which attaches to the collateral is perfected by
the filing or compliance.
(1959, P.A. 133, S. 9-505; P.A. 76-369, S. 39; P.A. 01-132, S. 76.)
History: P.A. 76-369 revised notice provisions in Subsec. (2) to state when debtor need not be notified and to restate
provisions re cases involving consumer goods and re notice to other secured parties, changing deadline for objection from
30 to 21 days after notice sent; P.A. 01-132 replaced former provisions re when a secured party is required to dispose of
collateral and when a secured party is authorized to retain the collateral in satisfaction of the obligation with provisions re
filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions.