Page:United States Statutes at Large Volume 77.djvu/787

 77 STAT. ]

PUBLIC LAW 88-243-DEC. 30, 1963

(e) an assignment of accounts or contract rights which does not alone or in conjunction with other assignments to the same assignee transfer a significant part of the outstanding accounts or contract rights of the assignor; (f) a security interest of a collecting bank (section 28:4— 208) or arising under the article on sales (see section 28:9—113) or covered in subsection (3) of this section. (2) If a secured party assigns a perfected security interest, no filing under this article is required in order to continue the perfected status of the security interest against creditors of and transferees from the original debtor. (3) The filing provisions of this article do not apply to a security interest in property subject to a statute (a) of the United States which provides for a national registration or filing of all security interests in such property; or (b) of the United States pertaining to the District which provides for central filing of security interests in a motor vehicle or trailer which is not inventory held for sale for which a certificate of title is required to be issued under the provisions of chapter 7 of Title 40. (4) A security interest in property covered by a statute described in subsection (3) can be perfected only by registration or filing under that statute or by indication of the security interest on a certificate of title or a duplicate thereof by a public official. §28:9—303. When security interest is perfected; continuity of perfection (1) A security interest is perfected when it has attached and when all of the applicable steps required for perfection have been taken. Such steps are specified in sections 28:9—302, 28:9—304, 28:9—305, and 28:9—306. If such steps are taken before the security interest attaches, it is perfected at the time when it attaches. (2) If a security interest is originally perfected in any way permitted under this article and is subsequently perfected in some other way under this article, without an intermediate period when it was unperfected, the security interest shall be deemed to be perfected continuously for the purposes of this article. § 28:9—304. Perfection of security interest in instruments, documents, and goods covered by documents; perfection by permissive filing; temporary perfection without filing or transfer of possession (1) A security interest in chattel paper or negotiable documents may be perfected by filing. A security interest in instruments (other than instruments which constitute part of chattel paper) can be perfected only by the secured party's taking possession, except as provided in subsections (4^ and (5). (2) During the period that goods are in the possession of the issuer of a negotiable document therefor, a security interest in the goods is perfected by perfecting a security interest in the document, and any security interest in the goods otherwise perfected during such period is subject thereto. (3) A security interest in goods in the possession of a bailee other than one who has issued a negotiable document therefor is perfected by issuance of a document in the name of the secured party or by the bailee's receipt of notification of the secured party's interest or by filing as to the goods. (4) A security interest in instruments or negotiable documents is perfected without filing or the taking of possession for a period of

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