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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Except as otherwise provided in Subtitle I of Title 28, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers and §§ 28-3301 to 28-3314.
(c) In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies.
(d) This article does not:
(1) Validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or
(2) Extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 28:9-201. General effectiveness of security agreement. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-28-9-201/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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