554.9301 Law governing perfection and priority of security interests. Except as otherwise provided in sections 554.9303, 554.9304, 554.9305, and 554.9306, the following rules determine the law governing perfection, the effect of perfection ornonperfection, and the priority of a security interest in collateral: 1. Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection,and the priority of a security interest in collateral. 2. While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory securityinterest in that collateral. 3. Except as otherwise provided in subsection 4, while tangible negotiable documents, goods, instruments, tangible money, or tangible chattel paper is located in a jurisdiction, thelocal law of that jurisdiction governs: a. perfection of a security interest in the goods by filing a fixture filing;b. perfection of a security interest in timber to be cut; andc. a jurisdiction, thelocal law of that jurisdiction governs: a. perfection of a security interest in the goods by filing a fixture filing;b. perfection of a security interest in timber to be cut; andc. the effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral. 4. The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest inas-extracted collateral. 2000 Acts, ch 1149, §21, 185, 187; 2007 Acts, ch 30, §45, 46, 69; 2022 Acts, ch 1117, §23Referred to in §554.1301, 554.9316 Sat Dec 23 11:01:42 2023 Iowa Code 2024, Section 554.9301 (26, 0)
Iowa Legal Code