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.3290 UCC 9-329. Priority of security interests in letter-of-credit right

The following rules govern priority among conflicting security interests in the same letter-of-credit right:

(1)

A security interest held by a secured party having control of the letter-of-credit right under ORS 79A.1070 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.

(2)

Security interests perfected by control under ORS 79A.3140 rank according to priority in time of obtaining control.

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Provenance

Version history

2026-01-01

2025 Oregon Revised Statutes — official online source