California Commercial Code

§ 9103

COM § 9103 Effective Jan 1, 2000Div. 9 · Ch. 1

Statute text

(a)In this section:

(1)“Purchase money collateral” means goods or software that secures a purchase money obligation incurred with respect to that collateral.

(2)“Purchase money obligation” means an obligation of an obligor incurred as all or part of the price of the collateral or for value given to enable the debtor to acquire rights in or the use of the collateral if the value is in fact so used.

…

Legislative history

Repealed and added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.