47-9108. Sufficiency of description A. Except as otherwise provided in subsections C, D and E, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described. B. Except as otherwise provided in subsection D, a description of collateral reasonably identifies the collateral if it identifies the collateral by: 1. Specific listing; 2. Category; 3. Except as otherwise provided in subsection E, a type of collateral defined in this title; 4. Quantity; 5. Computational or allocational formula or procedure; or 6. Except as otherwise provided in subsection C, any other method, if the identity of the collateral is objectively determinable. C. A description of collateral as " all the debtor's assets" or " all the debtor's personal property" or using words of similar import does not reasonably identify the collateral. D. Except as otherwise provided in subsection E, a description of a security entitlement, securities account or commodity account is sufficient if it describes: 1. The collateral by those terms or as investment property; or 2. The underlying financial asset or commodity contract. E. A description only by type of collateral defined in this title is an insufficient description of: 1. A commercial tort claim; or 2. In a consumer transaction, consumer goods, a security entitlement, a securities account or a commodity account.
‹ Prev All Arizona sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.