Statute · California Commercial Code
Cal. Com. Code § 9318 — Perfection and Priority
Cal. Com. Code § 9318
- Type
- Statute
- Source
- California Commercial Code
- Jurisdiction
- California
- Date
- 2000-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
Citator
Cal. Com. Code § 9318 — Perfection and Priority is in force in the current edition of the Code, and nothing recorded condemns it.
(a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
(b) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer’s security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.