California Commercial Code

§ 9315

COM § 9315 Effective Jan 1, 2000Div. 9 · Ch. 3

Statute text

(a)Except as otherwise provided in this division and in subdivision (2) of Section 2403, both of the following apply:

(1)A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien.

(2)A security interest attaches to any identifiable proceeds of collateral.

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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Repealed and added by Stats. 1999, Ch. 991, Sec. 35.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.