Vt. Stat. tit. 9A § 9-109

Current through L. 2024, c. 185.
Section 9-109 - Scope
(a) Except as otherwise provided in subsections (c) and (d) of this section, this article applies to:
(1) a transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract;
(2) an agricultural lien;
(3) a sale of accounts, chattel paper, payment intangibles, or promissory notes;
(4) a consignment;
(5) a security interest arising under section 2-401, 2-505 of this title or subsection 2-711(3), or 2A-508(5) of this title, as provided in section 9-110 of this title; and
(6) a security interest arising under section 4-210 or 5-118 of this title.
(b) The application of this article to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this article does not apply.
(c) This article does not apply to the extent that:
(1) a statute, regulation, or treaty of the United States preempts this article;
(2) a statute of another state, a foreign country, or a governmental unit of another state or a foreign country, other than a statute generally applicable to security interests, expressly governs creation, perfection, priority, or enforcement of a security interest created by the state, country, or governmental unit; or
(3) the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under section 5-114 of this title.
(d) This article does not apply to:
(1) a landlord's lien, other than an agricultural lien;
(2) a lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but section 9-333 of this title applies with respect to priority of the lien;
(3) an assignment of a claim for wages, salary, or other compensation of an employee;
(4) a sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose;
(5) an assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only;
(6) an assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract;
(7) an assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness;
(8) a transfer of an interest in or an assignment of a claim under a policy of insurance, other than an assignment by or to a health care provider of a health care-insurance receivable and any subsequent assignment of the right to payment, but sections 9-315 and 9-322 of this title apply with respect to proceeds and priorities in proceeds;
(9) an assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral;
(10) a right of recoupment or set-off, but:
(A) section 9-340 of this title applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts; and
(B) section 9-404 of this title applies with respect to defenses or claims of an account debtor;
(11) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) liens on real property in sections 9-203 of this title and 9-308 of this title;
(B) fixtures in section 9-334 of this title;
(C) fixture filings in sections 9-501, 9-502, 9-512, 9-516, and 9-519 of this title; and
(D) security agreements covering personal and real property in section 9-604 of this title;
(12) an assignment of a claim arising in tort, other than a commercial tort claim, but sections 9-315 and 9-322 of this title apply with respect to proceeds and priorities in proceeds;
(13) an assignment of a deposit account in a consumer transaction, but sections 9-315 and 9-322 of this title apply with respect to proceeds and priorities in proceeds;
(14) a transfer by this State or a subdivision, agency, department, county, municipality, or other unit of the government of this State;
(15) a claim or right to receive compensation for injuries or sickness as described in 26 U.S.C. § 104(a)(1) or (2); or
(16) a claim or right to receive benefits under a special needs trust as described in 42 U.S.C. § 1396p(d)(4).

9A V.S.A. § 9-109

Added 1999, No. 106 (Adj. Sess.), § 2, eff. 7/1/2001; amended 2001, No. 46, §§ 1a, 1b.