SB 32--Am. by H
As Amended by House Committee
As Amended by Senate Committee
Session of 1997
By Committee on Financial Institutions and Insurance

12 AN ACT concerning filing financing statements of security interests; pur- 13 chase price of consumer good; amending K.S.A. 84-9-302 and repeal- 14 ing the existing section. 15 16 Be it enacted by the Legislature of the State of Kansas: 17 Section 1. K.S.A. 84-9-302 is hereby amended to read as follows: 84- 18 9-302. (1) A financing statement must be filed to perfect all security in- 19 terests except the following: 20 (a) A security interest in collateral in possession of the secured party 21 under K.S.A. 84-9-305 and amendments thereto; 22 (b) a security interest temporarily perfected in instruments, certifi- 23 cated securities or documents without delivery under K.S.A. 84-9-304 and 24 amendments thereto or in proceeds for a ten-day period under K.S.A. 25 84-9-306 and amendments thereto; 26 (c) a security interest created by an assignment of a beneficial interest 27 in a trust or a decedent's estate; 28 (d) a purchase money security interest in a consumer good with a 29 purchase price of $1,000 $3,000 or less, other than a vehicle in which a 30 security interest is subject to perfection under subsection (3), but filing 31 is required to perfect a security interest in a vessel as defined in K.S.A. 32 82a-802, and amendments thereto, and a fixture filing is required for 33 priority over conflicting security interests in a fixture as provided in K.S.A. 34 84-9-313, and amendments thereto; 35 (e) an assignment of accounts which does not alone or in conjunction 36 with other assignments to the same assignee transfer a significant part of 37 the outstanding accounts of the assignor; 38 (f) a security interest of a collecting bank (K.S.A. 84-4-208 and 39 amendments thereto) or arising under the article on sales (see K.S.A. 84- 40 9-113 and amendments thereto) or covered in subsection (3); 41 (g) an assignment for the benefits of all creditors of the transferor 42 and subsequent transfers by the assignee thereunder; 43 (h) a security interest in investment property which is perfected with- SB 32--Am. by H

 1  out filing under K.S.A. 84-9-115 or 84-9-116.
 2    (2)  If a secured party assigns a perfected security interest, no filing
 3  under this article is required in order to continue the perfected status of
 4  the security interest against creditors of and transferees from the original
 5  debtor.
 6    (3)  A security interest in:
 7    (a)  Property subject to a statute of the United States which provides
 8  for national registration or filing of such security interests in such prop-
 9  erty; or
10    (b)  property subject to a statute of this state which provides for cen-
11  tral filing of such property; or
12    (c)  a vehicle (except a vehicle held as inventory for sale), a manu-
13  factured home or a mobile home subject to a statute of this state which
14  requires indication on a certificate of title or a duplicate thereof of such
15  security interests in such vehicle:; or
16    (d)  a manufactured home or a mobile home (except a manu-
17  factured home or mobile home held as inventory for sale), subject
18  to a statute of this state which requires indication on a certificate
19  of title or a duplicate thereof of such security interest in such man-
20  ufactured home or mobile home:
21    Can be perfected only by presentation, for the purpose of such regis-
22  tration or such filing or such indication, of the documents appropriate
23  under any such statute to the public official appropriate under any such
24  statute and tender of the required fee to or acceptance of the documents
25  by such public official, or by the mailing or delivery by a dealer or secured
26  party to the appropriate state agency of a notice of security interest as
27  prescribed by K.S.A. 8-135 and amendments thereto. Such presentation
28  and tender or acceptance, or mailing or delivery, shall have the same
29  effect under this article as filing under this article, and such perfection
30  shall have the same effect under this article as perfection by filing under
31  this article.
32    Sec. 2.  K.S.A. 84-9-302 is hereby repealed.
33    Sec. 3.  This act shall take effect and be in force from and after its
34  publication in the statute book.