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336.9-310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.

(a) General rule: perfection by filing. Except as otherwise provided in subsection (b) and section 336.9-312(b), a financing statement must be filed to perfect all security interests and agricultural liens.

(b) Exceptions: filing not necessary. The filing of a financing statement is not necessary to perfect a security interest:

(1) that is perfected under section 336.9-308(d), (e), (f), or (g);

(2) that is perfected under section 336.9-309 when it attaches;

(3) in property subject to a statute, regulation, or treaty described in section 336.9-311(a);

(4) in goods in possession of a bailee which is perfected under section 336.9-312(d)(1) or (2);

(5) in certificated securities, documents, goods, or instruments which is perfected without filing or possession under section 336.9-312(e), (f), or (g);

(6) in collateral in the secured party's possession under section 336.9-313;

(7) in a certificated security which is perfected by delivery of the security certificate to the secured party under section 336.9-313;

(8) in deposit accounts, electronic chattel paper, investment property, or letter of credit rights which is perfected by control under section 336.9-314;

(9) in proceeds which is perfected under section 336.9-315; or

(10) that is perfected under section 336.9-316.

(c) Assignment of perfected security interest. If a secured party assigns a perfected security interest or agricultural lien, a filing under this article is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.

HIST: 2000 c 399 art 1 s 30

* NOTE: This section, as added by Laws 2000, chapter 399, *article 1, section 30, is effective July 1, 2001. Laws 2000, *chapter 399, article 1, section 130.

* NOTE: Minnesota Statutes 1998, section 336.9-310, which *reads as follows, is repealed July 1, 2001. Laws 2000, chapter *399, article 1, section 130.

* "336.9-310 Priority of certain liens arising by *operation of law.

* When a person in the ordinary course of business furnishes *services or materials with respect to goods subject to a *security interest, a lien upon goods in the possession of such *person given by statute or rule of law for such materials or *services takes priority over a perfected security interest *unless the lien is statutory and the statute expressly provides *otherwise."

Official Publication of the State of Minnesota
Revisor of Statutes