{"id":3291,"date":"2022-05-12T12:57:10","date_gmt":"2022-05-12T12:57:10","guid":{"rendered":"https:\/\/crowdsourcelawyers.com\/california-statutes\/?page_id=3291"},"modified":"2022-05-20T23:45:06","modified_gmt":"2022-05-20T23:45:06","slug":"california-security-agreement","status":"publish","type":"page","link":"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/california-security-agreement\/","title":{"rendered":"California Security Agreement"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l330kqc3-e87acd8352aa1297dde1cadeaeb48241\">\n#top .av-special-heading.av-l330kqc3-e87acd8352aa1297dde1cadeaeb48241{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-l330kqc3-e87acd8352aa1297dde1cadeaeb48241 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-l330kqc3-e87acd8352aa1297dde1cadeaeb48241 .av-subheading{\nfont-size:22px;\n}\n<\/style>\n<div  class='av-special-heading av-l330kqc3-e87acd8352aa1297dde1cadeaeb48241 av-special-heading-h1 blockquote modern-quote  avia-builder-el-0  el_before_av_hr  avia-builder-el-first '><div class='av-subheading av-subheading_above'><p>California<\/p>\n<\/div><h1 class='av-special-heading-tag '  itemprop=\"headline\"  >Commercial Code &#8211; COM \u00a7 9203<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-3a876428eececa9d35452247ddb053af\">\n#top .hr.hr-invisible.av-av_hr-3a876428eececa9d35452247ddb053af{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-av_hr-3a876428eececa9d35452247ddb053af hr-invisible  avia-builder-el-1  el_after_av_heading  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-av_textblock-e878f05c31dff72941bf1e49a00d9ff5 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p><a href=\"https:\/\/crowdsourcelawyers.com\/\">CrowdSourceLawyers.com<\/a><\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad\">\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av_searchform_wrapper{\nborder-color:#edae44;\nbackground-color:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad #s.av-input-field{\ncolor:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av-input-field-icon.av-search-icon{\ncolor:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av-input-field-icon.av-search-icon.avia-svg-icon svg:first-child{\nfill:#edae44;\nstroke:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad #searchsubmit{\nbackground-color:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av_searchsubmit_wrapper{\nbackground-color:#edae44;\n}\n<\/style>\n<div  class='avia_search_element av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad  avia-builder-el-3  el_after_av_textblock  el_before_av_hr '><search><form action='https:\/\/crowdsourcelawyers.com\/california-statutes\/' id='searchform_element' method='get' class='' data-element_id='av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad' ><div class='av_searchform_wrapper'><input type='search' value='' id='s' name='s' placeholder='Search CA statutes' aria-label='Search CA statutes' class='av-input-field ' required \/><div class='av_searchsubmit_wrapper '><input type='submit' value='Find' id='searchsubmit' class='button ' title='View results on search page' aria-label='View results on search page' \/><\/div><input type='hidden' name='numberposts' value='10' \/><input type='hidden' name='results_hide_fields' value='' \/><\/div><\/form><\/search><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-3a876428eececa9d35452247ddb053af\">\n#top .hr.hr-invisible.av-av_hr-3a876428eececa9d35452247ddb053af{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-av_hr-3a876428eececa9d35452247ddb053af hr-invisible  avia-builder-el-4  el_after_avia_sc_search  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-l330m4ps-c3b91a9aaddc7c4ec8b7f911280e0354 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><div class=\"row\">\n<div class=\"subsection\"><\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(a)\u2002A 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.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(b)\u2002Except as otherwise provided in subdivisions (c) to (i), inclusive, a security interest is enforceable against the debtor and third parties with respect to the collateral only if each of the following conditions is satisfied:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002Value has been given.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002The debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(3)\u2002One of the following conditions is met:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(A)\u2002The 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.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(B)\u2002The collateral is not a certificated security and is in the possession of the secured party under\u00a0<span class=\"cite\">Section 9313\u00a0<\/span>pursuant to the debtor&#8217;s security agreement.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(C)\u2002The collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under\u00a0<span class=\"cite\">Section 8301\u00a0<\/span>pursuant to the debtor&#8217;s security agreement.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(D)\u2002The collateral is deposit accounts, electronic chattel paper, investment property,\u00a0letter-of-credit rights,\u00a0<span class=\"added-material\">or electronic documents<\/span>\u00a0and the secured party has control under\u00a0<span class=\"cite\">Section 7106\u00a0<\/span><span class=\"added-material\">,<\/span><span class=\"cite\">\u00a09104\u00a0<\/span>,\u00a0<span class=\"cite\">9105\u00a0<\/span>,\u00a0<span class=\"cite\">9106\u00a0<\/span>, or\u00a0<span class=\"cite\">9107\u00a0<\/span>pursuant to the debtor&#8217;s security agreement.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(c)\u2002Subdivision (b) is subject to\u00a0<span class=\"cite\">Section 4210\u00a0<\/span>on the security interest of a collecting bank,\u00a0<span class=\"cite\">Section 5118\u00a0<\/span>on the security interest of a letter-of-credit issuer or nominated person,\u00a0<span class=\"cite\">Section 9110\u00a0<\/span>on a security interest arising under Division 2 (commencing with\u00a0<span class=\"cite\">Section 2101\u00a0<\/span>) or Division 10 (commencing with\u00a0<span class=\"cite\">Section 10101\u00a0<\/span>), and\u00a0<span class=\"cite\">Section 9206\u00a0<\/span>on security interests in investment property.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(d)\u2002A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this division or by contract, either of the following conditions is satisfied:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002The security agreement becomes effective to create a security interest in the person&#8217;s property.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002The 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.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(e)\u2002If a new debtor becomes bound as debtor by a security agreement entered into by another person<span class=\"added-material\">,<\/span>\u00a0both of the following apply:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002The agreement satisfies paragraph (3) of subdivision (b) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002Another agreement is not necessary to make a security interest in the property enforceable.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(f)\u2002The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by\u00a0<span class=\"cite\">Section 9315\u00a0<\/span>and is also attachment of a security interest in a supporting obligation for the collateral.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(g)\u2002The 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.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(h)\u2002The 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.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(i)\u2002The 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.<\/p>\n<\/div>\n<p><br class=\"avia-permanent-lb\" \/><br class=\"avia-permanent-lb\" \/><\/p>\n<\/div>\n<\/div>\n<hr \/>\n<p><a href=\"https:\/\/crowdsourcelawyers.com\/\">CrowdSourceLawyers.com<\/a><\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":9,"featured_media":0,"parent":2019,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3291","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is 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