§ 9901 Individual Debtor Security Interests

Key Takeaways

•This law started on January 1, 2015.
•It only applies if a person owes money and their name was on a loan paper before 2015.
•If another law (Chapter 8) also applies, this law is the boss.

Example

You took out a car loan in 2014, and your name is on the loan papers.

This law applies to your loan because you are a person and your name was on the papers before 2015.

(a) The changes to this division made by the act adding this chapter become operative on January 1, 2015. (b) This chapter applies to a security interest only to the extent that, with respect to such security interest, both of the following apply: (1) A debtor is an individual. (2) A financing statement filed before January 1, 2015, provides the name of an individual as a debtor. (c) If a security interest is within the scope of Chapter 8 (commencing with Section 9801), that chapter continues to apply. To the extent there is a conflict between Chapter 8 (commencing with Section 9801) and this chapter, this chapter governs. (Added by Stats. 2014, Ch. 284, Sec. 2. (AB 1858) Effective January 1, 2015.)

Key Takeaways

•This law started on January 1, 2015.
•It only applies if a person owes money and their name was on a loan paper before 2015.
•If another law (Chapter 8) also applies, this law is the boss.

Example

You took out a car loan in 2014, and your name is on the loan papers.

This law applies to your loan because you are a person and your name was on the papers before 2015.

Key Takeaways

Example

Key Terms

References

§ 9901 Individual Debtor Security Interests

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References