1. General scope of Article. Except as otherwise provided in subsections 3 and 4, this Article applies to:
a. a transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract;
b. an agricultural lien;
c. a sale of accounts, chattel paper, payment intangibles, or promissory notes;
d. a consignment;
e. a security interest arising under section 554.2401, 554.2505, 554.2711, subsection 3, section 554.9110, or 554.13508, subsection 5; and
f. a security interest arising under section 554.4210 or 554.5118.
2. Security interest in secured obligation. 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.
3. Extent to which Article does not apply. This Article does not apply to the extent that:
a. a statute, regulation, or treaty of the United States preempts this Article;
b. another statute of this state expressly governs the creation, perfection, priority, or enforcement of a security interest created by this state or a governmental unit of this state;
c. 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
d. the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under section 554.5114.
4. Inapplicability of Article. This Article does not apply to:
a. a landlord's lien, other than an agricultural lien;
b. a lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but section 554.9333 applies with respect to priority of the lien;
c. an assignment of a claim for wages, salary, or other compensation of an employee;
d. a sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose;
e. an assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only;
f. an assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract;
g. an assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness;
h. 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 554.9315 and 554.9322 apply with respect to proceeds and priorities in proceeds;
i. an assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral;
j. a right of recoupment or setoff, but:
(1) section 554.9340 applies with respect to the effectiveness of rights of recoupment or setoff against deposit accounts; and
(2) section 554.9404 applies with respect to defenses or claims of an account debtor;
k. 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:
(1) liens on real property in sections 554.9203 and 554.9308;
(2) fixtures in section 554.9334;
(3) fixture filings in sections 554.9501, 554.9502, 554.9512, 554.9516, and 554.9519; and
(4) security agreements covering personal and real property in section 554.9604;
l. an assignment of a claim arising in tort, other than a commercial tort claim, but sections 554.9315 and 554.9322 apply with respect to proceeds and priorities in proceeds;
m. an assignment of a deposit account in a consumer transaction, but sections 554.9315 and 554.9322 apply with respect to proceeds and priorities in proceeds;
n. a transfer, other than a transfer pursuant to chapter 419, by this state or a governmental unit within this state in connection with a public-finance transaction or a transaction that would be a public-finance transaction but for failure to meet the criterion set forth in section 554.9102, subsection 1, paragraph "bo", subparagraph (2); or
o. an assignment of a claim or right to receive any of the following:
(1) compensation for injuries or sickness as provided in 26 U.S.C. § 104(a)(1) or (2).
(2) benefits under a special needs trust as provided in 42 U.S.C. § 1396p(d)(4).
2000 Acts, ch 1149, §9, 185, 187
Referred to in § 554.13303, 579B.3
Effective July 1, 2001; 2000 Acts, ch 1149, §187; former section repealed effective July 1, 2001; 2000 Acts, ch 1149, §185, 187; for law prior to July 1, 2001, see Code 2001
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