(1) A financing statement must be filed to perfect all security interests except the following:
(a) a security interest in collateral in possession of the secured party under section 28:9-305;
(b) a security interest temporarily perfected in instruments, certificated securities, or documents without delivery under section 28:9-304 or in proceeds for a ten day period under section 28:9-306;
(c) a security interest created by an assignment of a beneficial interest in a trust or a decedent's estate;
(d) a purchase money security interest in consumer goods; but filing is required for a motor vehicle required to be registered; and fixture filing is required for priority over conflicting interests in fixtures to the extent provided in section 28:9-313;
(e) 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;
(f) a security interest of a collecting bank (section 28:4-210) or arising under the article on sales (see section 28:9-113) or covered in subsection (3) of this section;
(g) an assignment for the benefit of all the creditors of the transferor, and subsequent transfers by the assignee thereunder;
(h) a security interest in investment property which is perfected without filing under § 28:9-115 or § 28:9-116.
(2) If a secured party assigns a perfected security interest, no filing under this article is required in order to continue the perfected status of the security interest against creditors of and transferees from the original debtor.
(3) The filing of a financing statement otherwise required by this article is not necessary or effective to perfect a security interest in property subject to
(a) 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 article for filing of the security interest; or
(b) the provisions of section 50-1201 et seq. as amended; 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 article (part 4) apply to a security interest in that collateral created by him as debtor; or
(c) 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 (section 28:9-103 (2)).
(4) Compliance with a statute or treaty described in subsection (3) is equivalent to the filing of a financing statement under this article, and a security interest in property subject to the statute or treaty can be perfected only by compliance therewith except as provided in section 28:9-103 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 article.
CREDIT(S)
(Dec. 30, 1963, 77 Stat. 754, Pub. L. 88-243, § 1; Mar. 16, 1982, D.C. Law 4-85, § 20, 29 DCR 309; Mar. 16, 1993, D.C. Law 9-196, § 5(d), 39 DCR 9165; Apr. 9, 1997, D.C. Law 11-240, § 3(l), 44 DCR 1087; Apr. 9, 1997, D.C. Law 11-255, § 27(ddd), 44 DCR 1271; Mar. 24, 1998, D.C. Law 12-81, § 16(c), 45 DCR 745; Apr. 20, 1999, D.C. Law 12-264, § 57(d), 46 DCR 2118.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 28:9-302.
1973 Ed., § 28:9-302.
Legislative History of Laws
For legislative history of D.C. Law 4-85, see Historical and Statutory Notes following § 28:9-102.
For legislative history of D.C. Law 9-196, see Historical and Statutory Notes following § 28:9-103.
For legislative history of D.C. Law 11-240, see Historical and Statutory Notes following § 28:9-301.
Law 11-255, the “Second Technical Amendments Act of 1996,” was introduced in Council and assigned Bill No. 11-905, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on November 7, 1996, and December 3, 1996, respectively. Signed by the Mayor on December 24, 1996, it was assigned Act No. 11-519 and transmitted to both Houses of Congress for its review. D.C. Law 11-255 became effective on April 9, 1997.
For legislative history of D.C. Law 12-81, see Historical and Statutory Notes following § 28:2-209.
For legislative history of D.C. Law 12-264, see Historical and Statutory Notes following § 28:9-115.
For Law 13-201, see notes following § 28:9-101.