§ 554.9335

554.9335 Accessions. 1. Creation of security interest in accession. A security interest may be created in an accession and continues in collateral that becomes an accession. 2. Perfection of security interest. If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. 3. Priority of security interest. Except as otherwise provided in subsection 4, the other provisions of this part determine the priority of a security interest in an accession. 4. Compliance with certificate-of-title statute. A security interest in an accession is subordinate to a security interest in the whole which is perfected by compliance with therequirements of a certificate-of-title statute under section 554.9311, subsection 2. 5. Removal of accession after default. After default, subject to part 6, a secured party may remove an accession from other goods if the security interest in the accession has priorityover the claims of every person having an interest in the whole. 6. Reimbursement following removal. A secured party that removes an accession from other goods under subsection 5 shall promptly reimburse any holder of a security

on having an interest in the whole. 6. Reimbursement following removal. A secured party that removes an accession from other goods under subsection 5 shall promptly reimburse any holder of a security interestor other lien on, or owner of, the whole or of the other goods, other than the debtor, forthe cost of repair of any physical injury to the whole or the other goods. The secured partyneed not reimburse the holder or owner for any diminution in value of the whole or the othergoods caused by the absence of the accession removed or by any necessity for replacing it.A person entitled to reimbursement may refuse permission to remove until the secured partygives adequate assurance for the performance of the obligation to reimburse. 2000 Acts, ch 1149, §55, 187 Sat Dec 23 11:02:00 2023 Iowa Code 2024, Section 554.9335 (24, 0)