6 Del. C. § 9-111
This is the official text of 6 Del. C. § 9-111, part of Delaware’s Del. C — part of the compiled statutory law of Delaware, published by the state as "Del. C." Browse the sections below, each linked to its official government source.
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§ Â 9-111. Law governing creation, attachment and enforcement of security interests; characterizations; and certain other rights.
Official statutory text
(a) Law governing classification of collateral and creation, attachment and enforcement of security interests. — If a security agreement is governed by the Laws of the State of Delaware, then those Laws shall govern, among other things:
(1) The classification of the collateral subject to that agreement; and
(2) The creation, attachment, validity and enforcement of the security interest.
(b) Law governing characterization of certain transactions. — If an agreement is governed by the Laws of the State of Delaware, then those Laws shall govern, among other things:
(1) The characterization of a transaction subject to that agreement as (A) an interest in personal property or fixtures that secures payment or performance of an obligation, or (B) a sale, lease, bailment or consignment; and
(2) The characterization of a transaction subject to that agreement as a securitization transaction for purposes of Chapter 27A of this title.
(1) The classification of the collateral subject to that agreement; and
(2) The creation, attachment, validity and enforcement of the security interest.
(b) Law governing characterization of certain transactions. — If an agreement is governed by the Laws of the State of Delaware, then those Laws shall govern, among other things:
(1) The characterization of a transaction subject to that agreement as (A) an interest in personal property or fixtures that secures payment or performance of an obligation, or (B) a sale, lease, bailment or consignment; and
(2) The characterization of a transaction subject to that agreement as a securitization transaction for purposes of Chapter 27A of this title.
Status: in_force · Read it on the official government site
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