Mich. Comp. Laws » Michigan Compiled Laws / Chapter 440 / Act 174 of 1962
Michigan Compiled Laws

Mich. Comp. Laws § 440.9203 (2026)

Attachment and enforcement of security interest; proceeds; supporting obligations; formal requisites.

✓ current as of July 2026
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UNIFORM COMMERCIAL CODE


Act 174 of 1962


440.9203 Attachment and enforcement of security interest; proceeds; supporting obligations; formal requisites.

Sec. 9203.

    (1) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.

    (2) Except as otherwise provided in subsections (3) through (9), a security interest is enforceable against the debtor and third parties with respect to the collateral only if all of the following are met:

    (a) Value has been given.

    (b) The debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party.

    (c) One or more of the following conditions are met:

    (i) The debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned.

    (ii) The collateral is not a certificated security and is in the possession of the secured party under section 9313 pursuant to the debtor's security agreement.

    (iii) The collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under section 8301 pursuant to the debtor's security agreement.

    (iv) The collateral is deposit accounts, electronic chattel paper, investment property, letter-of-credit rights, or electronic documents, and the secured party has control under section 7106, 9104, 9105, 9106, or 9107 pursuant to the debtor's security agreement.

    (3) Subsection (2) is subject to section 4210 on the security interest of a collecting bank, section 5118 on the security interest of a letter-of-credit issuer or nominated person, section 9110 on a security interest arising under article 2 or 2A, and section 9206 on security interests in investment property.

    (4) A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this article or by contract, either of the following occurs:

    (a) The security agreement becomes effective to create a security interest in the person's property.

    (b) The person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person.

    (5) If a new debtor becomes bound as debtor by a security agreement entered into by another person, the agreement satisfies subsection (2)(c) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement, and another agreement is not necessary to make a security interest in the property enforceable.

    (6) The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by section 9315 and is also attachment of a security interest in a supporting obligation for the collateral.

    (7) The attachment of a security interest in a right to payment or performance secured by a security interest or other lien on personal or real property is also attachment of a security interest in the security interest, mortgage, or other lien.

    (8) The attachment of a security interest in a securities account is also attachment of a security interest in the security entitlements carried in the securities account.

    (9) The attachment of a security interest in a commodity account is also attachment of a security interest in the commodity contracts carried in the commodity account.

History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1978, Act 369, Eff. Jan. 1, 1979 ;-- Am. 1987, Act 16, Imd. Eff. Apr. 24, 1987 ;-- Am. 1998, Act 278, Imd. Eff. July 27, 1998 ;-- Am. 1998, Act 489, Imd. Eff. Jan. 4, 1999 ;-- Am. 2000, Act 348, Eff. July 1, 2001 ;-- Am. 2012, Act 87, Eff. July 1, 2013

Notes of Decisions
Cited in 40 cases, 1968–2020 · leading case: Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008).
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Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). · cites it 6× “MCL 440.9203(1). The security interest attaches “when it becomes enforceable against the debtor with respect to the collateral.”
Matter of Cliff's Ridge Skiing Corp., 123 B.R. 753 (Bankr. W.D. Mich. 1991). · cites it 6× “Mich.Comp.Laws Ann. § 440.9203(1). The security interest *761 attaches when all three events take place, absent an explicit agreement to postpone the attachment.”
Cook v. United States (In Re Earl Roggenbuck Farms, Inc.), 51 B.R. 913 (Bankr. E.D. Mich. 1985). · cites it 4× “§ 544 (a); Mich.Comp.Laws § 440.9203; Mich.Stat.Ann.”
Roan v. Murray, 556 N.W.2d 893 (Mich. Ct. App. 1996). · cites it 4× “Plaintiff argued that the application for certificate of title constitutes a security agreement for purposes of § 9-203 of the Uniform Commercial Code, MCL 440.9203; MSA 19.9203. The trial court agreed and ruled that plaintiff had a valid security agreement.”
Laborers Pension Trust Fund-Detroit & Vicinity v. Interior Exterior Specialists Co., 824 F. Supp. 2d 764 (E.D. Mich. 2011). · cites it 3× ““A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral,” Mich. Comp. Laws § 440.9203 (1), and a security interest is enforceable against the debtor and third parties when the following conditions have been…”
Warren Tool Co. v. Stephenson, 161 N.W.2d 133 (Mich. Ct. App. 1968). · cites it 2× “16 MCLA § 440.9203 (Stat Ann 1964 Eev § 19.9203).”
NBD-Sandusky Bank v. Ritter, 446 N.W.2d 340 (Mich. Ct. App. 1989). · cites it 6× “When a financing statement is filed prior to attachment, the security interest is perfected at the time it attaches.”
Equip. Fin. Grp., Inc. v. Traverse Comput. Brokers, & Synchronized Design & Dev. Co., Inc., 973 F.2d 345 (4th Cir. 1992). “Mich. Comp. Laws Ann. § 440.9203 (West Supp.”
Motors Liquidation Co. Avoidance Action Trust ex rel. Wilmington Trust Co. v. JPMorgan Chase Bank, N.A. (In re Motors Liquidation Co.), 576 B.R. 325 (Bankr. S.D.N.Y. 2017). “GM was Permitted to Grant a Lien on its Residual Interest The Collateral Agreement provides that the Term Lenders would have a security interest in any equipment or fixtures “in which [GM] now has or at any time in the future may acquire my right, title or interest.” (JX-2 at 7…”
NBD-Sandusky Bank v. Ritter, 471 N.W.2d 340 (Mich. 1991). · cites it 3× “MCL 440.9203(2); MSA 19.9203(2). The Court of Appeals focused on the language of the parties’ loan contract and security agreement and held that the "agreement” and "value” elements of "attachment” were not satisfied until August 15, 1985, the date the document was executed by a…”
Fed. Land Bank of St Paul v. Bay Park Place, Inc, 412 N.W.2d 222 (Mich. Ct. App. 1987). · cites it 2× “MCL 440.9203(l)(a); MSA 19.9203(l)(a). When the security interest covers crops growing or to be grown, the description of the collateral must include a description of the land upon which the crops are growing or are to be grown.”
Shinville Leasing, Inc. v. Miller Equip. Co. (In Re Shinville Leasing, Inc.), 46 B.R. 352 (Bankr. W.D. Mich. 1985). · cites it 5× “§ 440.9203 which reads in part: [A] security interest is not enforceable against the debtor or third parties with respect to the collateral and does not attach unless: (a) The collateral is in the possession of the secured party pursuant to agreement, or the debtor has signed a…”
Show all 40 citing cases →
— Mich. Comp. Laws § 440.9203(1) — 11 cases
Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). “MCL 440.9203(1). The security interest attaches “when it becomes enforceable against the debtor with respect to the collateral.”
Cook v. United States (In Re Earl Roggenbuck Farms, Inc.), 51 B.R. 913 (Bankr. E.D. Mich. 1985). “§ 544 (a); Mich.Comp.Laws § 440.9203; Mich.Stat.Ann.”
Matter of Cliff's Ridge Skiing Corp., 123 B.R. 753 (Bankr. W.D. Mich. 1991). “Mich.Comp.Laws Ann. § 440.9203(1). The security interest *761 attaches when all three events take place, absent an explicit agreement to postpone the attachment.”
Roan v. Murray, 556 N.W.2d 893 (Mich. Ct. App. 1996). “Plaintiff argued that the application for certificate of title constitutes a security agreement for purposes of § 9-203 of the Uniform Commercial Code, MCL 440.9203; MSA 19.9203. The trial court agreed and ruled that plaintiff had a valid security agreement.”
NBD-Sandusky Bank v. Ritter, 446 N.W.2d 340 (Mich. Ct. App. 1989). “When a financing statement is filed prior to attachment, the security interest is perfected at the time it attaches.”
— Mich. Comp. Laws § 440.9203(1)(a) — 1 case
NBD-Sandusky Bank v. Ritter, 446 N.W.2d 340 (Mich. Ct. App. 1989). “When a financing statement is filed prior to attachment, the security interest is perfected at the time it attaches.”
— Mich. Comp. Laws § 440.9203(1)(b) — 1 case
Gen. Motors Acceptance Corp. v. Bolinger (In Re Bolinger), 3 B.R. 186 (Bankr. E.D. Mich. 1980).
— Mich. Comp. Laws § 440.9203(1)(c) — 1 case
Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). “MCL 440.9203(1). The security interest attaches “when it becomes enforceable against the debtor with respect to the collateral.”
— Mich. Comp. Laws § 440.9203(2) — 7 cases
Matter of Cliff's Ridge Skiing Corp., 123 B.R. 753 (Bankr. W.D. Mich. 1991). “Mich.Comp.Laws Ann. § 440.9203(1). The security interest *761 attaches when all three events take place, absent an explicit agreement to postpone the attachment.”
Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). “MCL 440.9203(1). The security interest attaches “when it becomes enforceable against the debtor with respect to the collateral.”
Laborers Pension Trust Fund-Detroit & Vicinity v. Interior Exterior Specialists Co., 824 F. Supp. 2d 764 (E.D. Mich. 2011). ““A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral,” Mich. Comp. Laws § 440.9203 (1), and a security interest is enforceable against the debtor and third parties when the following conditions have been…”
Michigan Tractor & Mach. Co. v. Elsey, 549 N.W.2d 27 (Mich. Ct. App. 1996).
NBD-Sandusky Bank v. Ritter, 471 N.W.2d 340 (Mich. 1991). “MCL 440.9203(2); MSA 19.9203(2). The Court of Appeals focused on the language of the parties’ loan contract and security agreement and held that the "agreement” and "value” elements of "attachment” were not satisfied until August 15, 1985, the date the document was executed by a…”
— Mich. Comp. Laws § 440.9203(2)(a) — 1 case
Veh. Dev. Corp. Pty Ltd. v. Livernois Veh. Dev., LLC, 995 F. Supp. 2d 758 (E.D. Mich. 2014).
— Mich. Comp. Laws § 440.9203(2)(c)(i) — 1 case
New Prods. Corp. v. Tibble (In re Modern Plastics Corp.), 534 B.R. 723 (Bankr. W.D. Mich. 2015).
— Mich. Comp. Laws § 440.9203(7) — 1 case
Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). “MCL 440.9203(1). The security interest attaches “when it becomes enforceable against the debtor with respect to the collateral.”
— Mich. Comp. Laws § 440.9203(l)(a) — 7 cases
In Re Seal, 192 B.R. 442 (Bankr. W.D. Mich. 1996).
Fed. Land Bank of St Paul v. Bay Park Place, Inc, 412 N.W.2d 222 (Mich. Ct. App. 1987). “MCL 440.9203(l)(a); MSA 19.9203(l)(a). When the security interest covers crops growing or to be grown, the description of the collateral must include a description of the land upon which the crops are growing or are to be grown.”
Roan v. Murray, 556 N.W.2d 893 (Mich. Ct. App. 1996). “Plaintiff argued that the application for certificate of title constitutes a security agreement for purposes of § 9-203 of the Uniform Commercial Code, MCL 440.9203; MSA 19.9203. The trial court agreed and ruled that plaintiff had a valid security agreement.”
Shinville Leasing, Inc. v. Miller Equip. Co. (In Re Shinville Leasing, Inc.), 46 B.R. 352 (Bankr. W.D. Mich. 1985). “§ 440.9203 which reads in part: [A] security interest is not enforceable against the debtor or third parties with respect to the collateral and does not attach unless: (a) The collateral is in the possession of the secured party pursuant to agreement, or the debtor has signed a…”
NBD-Sandusky Bank v. Ritter, 471 N.W.2d 340 (Mich. 1991). “MCL 440.9203(2); MSA 19.9203(2). The Court of Appeals focused on the language of the parties’ loan contract and security agreement and held that the "agreement” and "value” elements of "attachment” were not satisfied until August 15, 1985, the date the document was executed by a…”
— Mich. Comp. Laws § 440.9203(l)(b) — 2 cases
Cipriano v. Tocco, 772 F. Supp. 344 (E.D. Mich. 1991).
NBD-Sandusky Bank v. Ritter, 471 N.W.2d 340 (Mich. 1991). “MCL 440.9203(2); MSA 19.9203(2). The Court of Appeals focused on the language of the parties’ loan contract and security agreement and held that the "agreement” and "value” elements of "attachment” were not satisfied until August 15, 1985, the date the document was executed by a…”
— Mich. Comp. Laws § 440.9203(l)(c) — 2 cases
In Re Dunn, 215 B.R. 121 (Bankr. E.D. Mich. 1997).
Fed. Land Bank of St Paul v. Bay Park Place, Inc, 412 N.W.2d 222 (Mich. Ct. App. 1987). “MCL 440.9203(l)(a); MSA 19.9203(l)(a). When the security interest covers crops growing or to be grown, the description of the collateral must include a description of the land upon which the crops are growing or are to be grown.”
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