{"id":4846,"date":"2022-05-15T16:27:08","date_gmt":"2022-05-15T16:27:08","guid":{"rendered":"https:\/\/crowdsourcelawyers.com\/california-statutes\/?page_id=4846"},"modified":"2022-05-24T16:35:20","modified_gmt":"2022-05-24T16:35:20","slug":"commercial-code-com-9312","status":"publish","type":"page","link":"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/commercial-code-com-9312\/","title":{"rendered":"Commercial Code &#8211; COM 9312"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l37icw6i-419df87dda3eafa8abecaf93a4922eb9\">\n#top .av-special-heading.av-l37icw6i-419df87dda3eafa8abecaf93a4922eb9{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-l37icw6i-419df87dda3eafa8abecaf93a4922eb9 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-l37icw6i-419df87dda3eafa8abecaf93a4922eb9 .av-subheading{\nfont-size:22px;\n}\n<\/style>\n<div  class='av-special-heading av-l37icw6i-419df87dda3eafa8abecaf93a4922eb9 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 9312<\/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-l37iek61-e79b2261c7c49685af9032f11cf76784 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><div class=\"row\">\n<div class=\"subsection\">(a)\u2002A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(b)\u2002Except as otherwise provided in\u00a0<span class=\"cite\">subdivisions (c)\u00a0<\/span>and\u00a0<span class=\"cite\">(d) of Section 9315\u00a0<\/span>for proceeds, all of the following apply:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002A security interest in a deposit account may be perfected only by control under\u00a0<span class=\"cite\">Section 9314\u00a0<\/span>.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002Except as otherwise provided in\u00a0<span class=\"cite\">subdivision (d) of Section 9308\u00a0<\/span>, a security interest in a letter-of-credit right may be perfected only by control under\u00a0<span class=\"cite\">Section 9314\u00a0<\/span>.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(3)\u2002A security interest in money may be perfected only by the secured party&#8217;s taking possession under\u00a0<span class=\"cite\">Section 9313\u00a0<\/span>.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(4)\u2002A security interest in, or claim in or under, any policy of insurance, including unearned premiums, may be perfected only by giving written notice of the security interest or claim to the insurer. \u2002This paragraph does not apply to a health care insurance receivable. \u2002A security interest in a health care insurance receivable may be perfected only as otherwise provided in this division.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(c)\u2002While goods are in the possession of a bailee that has issued a negotiable document covering the goods<span class=\"added-material\">,<\/span>\u00a0both of the following apply:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002A security interest in the goods may be perfected by perfecting a security interest in the document.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002A security interest perfected in the document has priority over any security interest that becomes perfected in the goods by another method during that time.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(d)\u2002While goods are in the possession of a bailee that has issued a nonnegotiable document covering the goods, a security interest in the goods may be perfected by any of the following methods:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002Issuance of a document in the name of the secured party.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002The bailee&#8217;s receipt of notification of the secured party&#8217;s interest.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(3)\u2002Filing as to the goods.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(e)\u2002A security interest in certificated securities, negotiable documents, or instruments is perfected without filing or the taking of possession\u00a0<span class=\"added-material\">or control<\/span>\u00a0for a period of 20 days from the time it attaches to the extent that it arises for new value given under an authenticated security agreement.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(f)\u2002A perfected security interest in a negotiable document or goods in possession of a bailee, other than one that has issued a negotiable document for the goods, remains perfected for 20 days without filing if the secured party makes available to the debtor the goods or documents representing the goods for the purpose of either of the following:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002Ultimate sale or exchange.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002Loading, unloading, storing, shipping, transshipping, manufacturing, processing, or otherwise dealing with them in a manner preliminary to their sale or exchange.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(g)\u2002A perfected security interest in a certificated security or instrument remains perfected for 20 days without filing if the secured party delivers the security certificate or instrument to the debtor for the purpose of either of the following:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002Ultimate sale or exchange.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002Presentation, collection, enforcement, renewal, or registration of transfer.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(h)\u2002After the 20-day period specified in subdivision (e), (f), or (g) expires, perfection depends upon compliance with this division.<\/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-4846","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Code - COM 9312 - California Statutes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/commercial-code-com-9312\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercial Code - COM 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