Michigan Compiled Laws

Mich. Comp. Laws § 440.9309 (2026)

Security interest perfected upon attachment.

✓ current as of July 2026
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UNIFORM COMMERCIAL CODE


Act 174 of 1962


440.9309 Security interest perfected upon attachment.

Sec. 9309.

    Each of the following security interests is perfected when it attaches:

    (a) A purchase-money security interest in consumer goods, except as otherwise provided in section 9311(2) with respect to consumer goods that are subject to a statute or treaty described in section 9311(1).

    (b) An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles.

    (c) A sale of a payment intangible.

    (d) A sale of a promissory note.

    (e) A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services.

    (f) A security interest arising under section 2401, 2505, 2711(3), or 2A508(5), until the debtor obtains possession of the collateral.

    (g) A security interest of a collecting bank arising under section 4210.

    (h) A security interest of an issuer or nominated person arising under section 5118.

    (i) A security interest arising in the delivery of a financial asset under section 9206(3).

    (j) A security interest in investment property created by a broker or securities intermediary.

    (k) A security interest in a commodity contract or a commodity account created by a commodity intermediary.

    (l) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder.

    (m) A security interest created by an assignment of a beneficial interest in a decedent's estate.

History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1987, Act 16, Imd. Eff. Apr. 24, 1987 ;-- Am. 1998, Act 278, Imd. Eff. July 27, 1998 ;-- Am. 2000, Act 348, Eff. July 1, 2001

Notes of Decisions
Cited in 2 cases, 1999–2008 · leading case: Conagra, Inc v. Farmers State Bank, 602 N.W.2d 390 (Mich. Ct. App. 1999).
Conagra, Inc v. Farmers State Bank, 602 N.W.2d 390 (Mich. Ct. App. 1999). · cites it 2× “MCL 440.9309; MSA 19.9309. This section provided at the time relevant to this action: *135 Nothing in this article limits the rights of a holder in due course of a negotiable instrument (section 3302) or a holder to whom a negotiable document of title has been duly negotiated…”
Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). “However, under revised Article 9, a purchaser automatically obtains a perfected security interest when the security interest attaches, see MCL 440.9309(d) (2001); there is no need to file a financing statement or take possession of the note.”
— Mich. Comp. Laws § 440.9309(d) — 1 case
Prime Fin. Servs. LLC v. Vinton, 761 N.W.2d 694 (Mich. Ct. App. 2008). “However, under revised Article 9, a purchaser automatically obtains a perfected security interest when the security interest attaches, see MCL 440.9309(d) (2001); there is no need to file a financing statement or take possession of the note.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.