certain other rights. (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. Part 2 Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement 1 Effectiveness and Attachment
‹ Prev All Delaware 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.