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S.C. Code Ann. § 36-9-505

Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions

Known as the Uniform Commercial Code

The act spans §§ 36–36 (519 sections).

Applied in 1 court decision — leading case Skinner v. Elrod (1992)

Most recently applied in Skinner v. Elrod (March 1992)

1962 Code SECTION 10.9-505; 1966 (54) 2716; 1980 Act No. 413; 1988 Act No. 494, SECTION 5; 2001 Act No. 67, SECTION 12.

(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in Section 36-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller", or words of similar import, instead of the terms "secured party" and "debtor".

(b) This part applies to the filing of a financing statement under subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under section 36-9-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance.

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