Public-domain · open source
OpenJurist

Iowa Code § 554.9331

Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other Articles — priority of interests in financial assets and security entitlements and protection against assertion of claims under Articles 8 and 14

Known as the Uniform Commercial Code

The act spans §§ 554–554 (631 sections).

Applied in 3 court decisions — leading case Agrifund, LLC v. Heartland Co-op (2021)

Most recently applied in Agrifund, LLC v. Heartland Co-op (August 2021)

2000 Acts, ch 1149, §51, 187; 2022 Acts, ch 1117, §31; 2024 Acts, ch 1023, §73

1. Rights under Articles 3, 7, 8, and 14 not limited. This Article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, a protected purchaser of a security, or a qualifying purchaser of a controllable account, controllable electronic record, or controllable payment intangible. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Articles 3, 7, 8, and 14.

2. Protection under Articles 8 and 14. This Article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Article 8 or 14.

3. Filing not notice. Filing under this Article does not constitute notice of a claim or defense to the holders, purchasers, or persons described in subsections 1 and 2.

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.