Oregon Law
Law as of Jan 1, 2026
Chapter contents
79A.1010UCC 9-101. Short title 79A.1020UCC 9-102. Definitions and index of definitions 79A.1030UCC 9-103. Purchase-money security interest; application of payments; burden of establishing 79A.1040UCC 9-104. Control of deposit account 79A.1050UCC 9-105. Control of electronic copy of record evidencing chattel paper 79A.1053UCC 9-105A. Control of electronic money 79A.1060UCC 9-106. Control of investment property 79A.1070UCC 9-107. Control of letter-of-credit right 79A.1073UCC 9-107A. Control of controllable electronic record, controllable account or controllable payment intangible 79A.1076UCC 9-107B. No requirement to acknowledge or confirm; no duties 79A.1080UCC 9-108. Sufficiency of description 79A.1090UCC 9-109. Scope 79A.1100UCC 9-110. Security interests arising under ORS chapter 72 or 72A 79A.2010UCC 9-201. General effectiveness of security agreement 79A.2020UCC 9-202. Title to collateral immaterial 79A.2030UCC 9-203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites 79A.2040UCC 9-204. After-acquired property; future advances 79A.2050UCC 9-205. Use or disposition of collateral permissible 79A.2060UCC 9-206. Security interest arising in purchase or delivery of financial asset 79A.2070UCC 9-207. Rights and duties of secured party having possession or control of collateral 79A.2080UCC 9-208. Additional duties of secured party having control of collateral 79A.2090UCC 9-209. Duties of secured party if account debtor has been notified of assignment 79A.2100UCC 9-210. Request for accounting; request regarding list of collateral or statement of account 79A.3010UCC 9-301. Law governing perfection and priority of security interests 79A.3020UCC 9-302. Law governing perfection and priority of agricultural liens 79A.3030UCC 9-303. Law governing perfection and priority of security interests in goods covered by certificate of title 79A.3040UCC 9-304. Law governing perfection and priority of security interests in deposit accounts 79A.3050UCC 9-305. Law governing perfection and priority of security interests in investment property 79A.3060UCC 9-306. Law governing perfection and priority of security interests in letter-of-credit rights 79A.3063UCC 9-306A. Law governing perfection and priority of security interests in chattel paper 79A.3066UCC 9-306B. Law governing perfection and priority of security interests in controllable accounts, controllable electronic records and controllable payment intangibles 79A.3070UCC 9-307. Location of debtor 79A.3080UCC 9-308. When security interest or agricultural lien is perfected; continuity of perfection 79A.3090UCC 9-309. Security interest perfected upon attachment 79A.3100UCC 9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply 79A.3110UCC 9-311. Perfection of security interests in property subject to certain statutes, regulations and treaties 79A.3120UCC 9-312. Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights and money; perfection by permissive filing; temporary perfection without filing or transfer of possession 79A.3130UCC 9-313. When possession by or delivery to secured party perfects security interest without filing 79A.3140UCC 9-314. Perfection by control 79A.3143UCC 9-314A. Perfection by possession and control of chattel paper 79A.3150UCC 9-315. Secured party’s rights on disposition of collateral and in proceeds 79A.3160UCC 9-316. Effect of change in governing law 79A.3170UCC 9-317. Interests that take priority over or take free of security interest or agricultural lien 79A.3180UCC 9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers 79A.3190UCC 9-319. Rights and title of consignee with respect to creditors and purchasers 79A.3200UCC 9-320. Buyer of goods 79A.3210UCC 9-321. Licensee of general intangible and lessee of goods in ordinary course of business 79A.3220UCC 9-322. Priorities among conflicting security interests in and agricultural liens on same collateral 79A.3230UCC 9-323. Future advances 79A.3240UCC 9-324. Priority of purchase-money security interests 79A.3250UCC 9-325. Priority of security interests in transferred collateral 79A.3260UCC 9-326. Priority of security interests created by new debtor 79A.3263UCC 9-326A. Priority of security interest in controllable account, controllable electronic record and controllable payment intangible 79A.3270UCC 9-327. Priority of security interests in deposit account 79A.3280UCC 9-328. Priority of security interests in investment property 79A.3290UCC 9-329. Priority of security interests in letter-of-credit right 79A.3300UCC 9-330. Priority of purchaser of chattel paper or instrument 79A.3310UCC 9-331. Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments and securities under other chapters; priority of interests in financial assets and security entitlements and protection against assertion of claim under ORS chapters 78 and 80 79A.3320UCC 9-332. Transfer of money; transfer of funds from deposit account 79A.3330UCC 9-333. Priority of certain liens arising by operation of law 79A.3340UCC 9-334. Priority of security interests in fixtures and crops 79A.3350UCC 9-335. Accessions 79A.3360UCC 9-336. Commingled goods 79A.3370UCC 9-337. Priority of security interests in goods covered by certificate of title 79A.3380UCC 9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information 79A.3390UCC 9-339. Priority subject to subordination 79A.3400UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account 79A.3410UCC 9-341. Bank’s rights and duties with respect to deposit account 79A.3420UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement 79A.4010UCC 9-401. Alienability of debtor’s rights 79A.4020UCC 9-402. Secured party not obligated on contract of debtor or in tort 79A.4030UCC 9-403. Agreement not to assert defenses against assignee 79A.4040UCC 9-404. Rights acquired by assignee; claims and defenses against assignee 79A.4050UCC 9-405. Modification of assigned contract 79A.4060UCC 9-406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective 79A.4070UCC 9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest 79A.4080UCC 9-408. Restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective 79A.4090UCC 9-409. Restrictions on assignment of letter-of-credit rights ineffective 79A.5010UCC 9-501. Filing office 79A.5020UCC 9-502. Contents of financing statement; record of mortgage as financing statement; time of filing financing statement 79A.5030UCC 9-503. Name of debtor and secured party 79A.5040UCC 9-504. Indication of collateral 79A.5050UCC 9-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions 79A.5060UCC 9-506. Effect of errors or omissions 79A.5070UCC 9-507. Effect of certain events on effectiveness of financing statement 79A.5080UCC 9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement 79A.5090UCC 9-509. Persons entitled to file record 79A.5100UCC 9-510. Effectiveness of filed record 79A.5110UCC 9-511. Secured party of record 79A.5120UCC 9-512. Amendment of financing statement 79A.5130UCC 9-513. Termination statement 79A.5140UCC 9-514. Assignment of powers of secured party of record 79A.5150UCC 9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement; renewal notice; rules 79A.5160UCC 9-516. What constitutes filing; effectiveness of filing 79A.5170UCC 9-517. Effect of indexing errors 79A.5180UCC 9-518. Claim concerning inaccurate or wrongfully filed record 79A.5190UCC 9-519. Numbering, maintaining and indexing records; communicating information provided in records 79A.5200UCC 9-520. Acceptance and refusal to accept record 79A.5210UCC 9-521. Uniform form of written financing statement and amendment 79A.5220UCC 9-522. Maintenance and destruction of records 79A.5230UCC 9-523. Information from filing office; sale or license of records 79A.5240UCC 9-524. Delay by filing office 79A.5250UCC 9-525. Fees; rules 79A.5260UCC 9-526. Filing-office rules 79A.5270UCC 9-527. Duty to report 79A.5280Liability of Secretary of State 79A.6010UCC 9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes 79A.6020UCC 9-602. Waiver and variance of rights and duties 79A.6030UCC 9-603. Agreement on standards concerning rights and duties 79A.6040UCC 9-604. Procedure if security agreement covers real property or fixtures 79A.6050UCC 9-605. Unknown debtor or secondary obligor 79A.6060UCC 9-606. Time of default for agricultural lien 79A.6070UCC 9-607. Collection and enforcement by secured party 79A.6080UCC 9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus 79A.6090UCC 9-609. Secured party’s right to take possession after default 79A.6100UCC 9-610. Disposition of collateral after default 79A.6110UCC 9-611. Notification before disposition of collateral 79A.6120UCC 9-612. Timeliness of notification before disposition of collateral 79A.6130UCC 9-613. Contents and form of notification before disposition of collateral: general 79A.6140UCC 9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction 79A.6150UCC 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus 79A.6160UCC 9-616. Explanation of calculation of surplus or deficiency 79A.6170UCC 9-617. Rights of transferee of collateral 79A.6180UCC 9-618. Rights and duties of certain secondary obligors 79A.6190UCC 9-619. Transfer of record or legal title 79A.6200UCC 9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral 79A.6210UCC 9-621. Notification of proposal to accept collateral 79A.6220UCC 9-622. Effect of acceptance of collateral 79A.6230UCC 9-623. Right to redeem collateral 79A.6240UCC 9-624. Waiver 79A.6250UCC 9-625. Remedies for secured party’s failure to comply with article 79A.6260UCC 9-626. Action in which deficiency or surplus is in issue 79A.6270UCC 9-627. Determination of whether conduct was commercially reasonable 79A.6280UCC 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor

Chapter 79A — Secured Transactions

ORS 79A.3060 UCC 9-306. Law governing perfection and priority of security interests in letter-of-credit rights

(1)

Subject to subsection (3) of this section, the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a security interest in a letter-of-credit right if the issuer’s jurisdiction or nominated person’s jurisdiction is a state.

(2)

For purposes of ORS 79A.3010 to 79A.3420, an issuer’s jurisdiction or nominated person’s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in ORS 75.1160.

(3)

This section does not apply to a security interest that is perfected only under ORS 79A.3080 (4).

Official sources · 1Tap to view provenance and version history

Online copy of the published ORS edition

Provenance

Version history

Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.