{"id":5619,"date":"2022-05-22T14:22:42","date_gmt":"2022-05-22T14:22:42","guid":{"rendered":"https:\/\/crowdsourcelawyers.com\/california-statutes\/?page_id=5619"},"modified":"2022-05-24T16:34:36","modified_gmt":"2022-05-24T16:34:36","slug":"commercial-code-com-9313","status":"publish","type":"page","link":"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/commercial-code-com-9313\/","title":{"rendered":"Commercial Code &#8211; COM 9313"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l3he19fr-8093f74f28ffd521771bf4e4b01b5744\">\n#top .av-special-heading.av-l3he19fr-8093f74f28ffd521771bf4e4b01b5744{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-l3he19fr-8093f74f28ffd521771bf4e4b01b5744 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-l3he19fr-8093f74f28ffd521771bf4e4b01b5744 .av-subheading{\nfont-size:22px;\n}\n<\/style>\n<div  class='av-special-heading av-l3he19fr-8093f74f28ffd521771bf4e4b01b5744 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 9313<\/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-l3he2mrz-57403aff6199e94bc90eaf50b18b4888 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><div class=\"row\">\n<div class=\"subsection\">(a)\u2002Except as otherwise provided in subdivision (b), a secured party may perfect a security interest in <span class=\"added-material\">tangible<\/span>\u00a0negotiable documents, goods, instruments, money, or tangible chattel paper by taking possession of the collateral. \u2002A secured party may perfect a security interest in certificated securities by taking delivery of the certificated securities under\u00a0<span class=\"cite\">Section 8301\u00a0<\/span>.<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(b)\u2002With respect to goods covered by a certificate of title issued by this state, a secured party may perfect a security interest in the goods by taking possession of the goods only in the circumstances described in\u00a0<span class=\"cite\">subdivision (d) of Section 9316\u00a0<\/span>.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(c)\u2002With respect to collateral other than certificated securities and goods covered by a document, a secured party takes possession of collateral in the possession of a person other than the debtor, the secured party, or a lessee of the collateral from the debtor in the ordinary course of the debtor&#8217;s business, when either of the following conditions is satisfied:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002The person in possession authenticates a record acknowledging that it holds possession of the collateral for the secured party&#8217;s benefit.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002The person takes possession of the collateral after having authenticated a record acknowledging that it will hold possession of collateral for the secured party&#8217;s benefit.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(d)\u2002If perfection of a security interest depends upon possession of the collateral by a secured party, perfection occurs no earlier than the time the secured party takes possession and continues only while the secured party retains possession.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(e)\u2002A security interest in a certificated security in registered form is perfected by delivery when delivery of the certificated security occurs under\u00a0<span class=\"cite\">Section 8301\u00a0<\/span>and remains perfected by delivery until the debtor obtains possession of the security certificate.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(f)\u2002A person in possession of collateral is not required to acknowledge that it holds possession for a secured party&#8217;s benefit.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(g)\u2002If a person acknowledges that it holds possession for the secured party&#8217;s benefit<span class=\"added-material\">,<\/span>\u00a0both of the following apply:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002The acknowledgment is effective under subdivision (c) or under\u00a0<span class=\"cite\">subdivision (a) of Section 8301\u00a0<\/span>, even if the acknowledgment violates the rights of a debtor.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002Unless the person otherwise agrees or law other than this division otherwise provides, the person does not owe any duty to the secured party and is not required to confirm the acknowledgment to another person.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(h)\u2002A secured party having possession of collateral does not relinquish possession by delivering the collateral to a person other than the debtor or a lessee of the collateral from the debtor in the ordinary course of the debtor&#8217;s business if the person was instructed before the delivery or is instructed contemporaneously with the delivery to do either of the following:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(1)\u2002To hold possession of the collateral for the secured party&#8217;s benefit.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002To redeliver the collateral to the secured party.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(i)\u2002A secured party does not relinquish possession, even if a delivery under subdivision (h) violates the rights of a debtor. \u2002A person to which collateral is delivered under subdivision (h) does not owe any duty to the secured party and is not required to confirm the delivery to another person unless the person otherwise agrees or law other than this division otherwise provides.<\/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-5619","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Code - COM 9313 - California 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