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HomeCommercial CodeDiv. 9Ch. 3§ 9310 Financing Statement Exemptions

§ 9310 Financing Statement Exemptions

Commercial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 9310 Financing Statement Exemptions

Key Takeaways

  • •If you lend money and want to make sure you get your stuff back if the person doesn't pay, you usually have to file a paper called a 'financing statement'.
  • •You don't always need to file this paper. For example, if you already have the thing you lent money for (like a car or jewelry), you might not need to file anything.
  • •If you sell your loan to someone else, the new person doesn’t have to file a new paper to keep their rights.

Example

You lend your friend $5,000 to buy a car, and they promise to give you the car if they don’t pay you back.

To make sure no one else can take the car if your friend doesn’t pay, you usually have to file a financing statement. But if you already have the car’s title in your hand, you might not need to file anything.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 9310 Financing Statement Exemptions

(a) Except as otherwise provided in subdivision (b) and in subdivision (b) of Section 9312, a financing statement must be filed to perfect all security interests and agricultural liens. (b) The filing of a financing statement is not necessary to perfect a security interest that satisfies any of the following conditions: (1) It is perfected under subdivision (d), (e), (f), or (g) of Section 9308. (2) It is perfected under Section 9309 when it attaches. (3) It is a security interest in property subject to a statute, regulation, or treaty described in subdivision (a) of Section 9311. (4) It is a security interest in goods in possession of a bailee which is perfected under paragraph (1) or (2) of subdivision (d) of Section 9312. (5) It is a security interest in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under subdivision (e), (f), or (g) of Section 9312. (6) It is a security interest in collateral in the secured party’s possession under Section 9313. (7) It is a security interest in a certificated security which is perfected by delivery of the security certificate to the secured party under Section 9313. (8) It is a security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, or letter-of-credit rights which is perfected by control under Section 9314. (9) It is a security interest in proceeds which is perfected under Section 9315. (10) It is perfected under Section 9316. (11) It is a security interest in, or claim in or under, any policy of insurance including unearned premiums which is perfected by written notice to the insurer under paragraph (4) of subdivision (b) of Section 9312. (12) It is a security interest in chattel paper which is perfected by possession and control under Section 9314.1. (c) If a secured party assigns a perfected security interest or agricultural lien, a filing under this division is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor. (Amended by Stats. 2023, Ch. 210, Sec. 41. (SB 95) Effective January 1, 2024.)

Last verified: January 23, 2026

Key Terms

financing statementsecurity interestsagricultural liensperfected status

Related Statutes

  • § 17304 Transitional Security Interest Perfection
  • § 9311 Security Interest Exemptions
  • § 9317 Priority Of Security Interests
  • § 9320 Buyer Protection From Security Interests
  • § 9322 Security Interest Priority Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Commercial Code. Section 9310.
View Official Source