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(a) General scope of chapter. Except as otherwise provided in subsections (c) and (d), this chapter applies to:
(1) a transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract;
(2) an agricultural lien;
(3) a sale of accounts, chattel paper, payment intangibles, or promissory notes;
(4) a consignment;
(5) a security interest arising under 12A:2-401, 12A:2-505, 12A:2-711(3), or 12A:2A-508(5), as provided in 12A:9-110; and
(6) a security interest arising under 12A:4-210 or 12A:5-118.
(b) Security interest in secured obligation. The application of this chapter to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this chapter does not apply.
(c) Extent to which chapter does not apply. This chapter does not apply to the extent that:
(1) a statute, regulation, or treaty of the United States preempts this chapter; or
(2) the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under 12A:5-114.
(d) Inapplicability of chapter. This chapter does not apply to:
(1) a landlord's lien, other than an agricultural lien;
(2) a lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but 12A:9-333 applies with respect to priority of the lien;
(3) an assignment of a claim for wages, salary, or other compensation of an employee;
(4) a sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose;
(5) an assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only;
(6) an assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract;
(7) an assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness;
(8) a transfer of an interest in or an assignment of a claim under a policy of insurance, other than an assignment by or to a health-care provider of a health-care-insurance receivable and any subsequent assignment of the right to payment, but 12A:9-315 and 12A:9-322 apply with respect to proceeds and priorities in proceeds;
(9) an assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral;
(10) a right of recoupment or set-off, but:
(A) 12A:9-340 applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts; and
(B) 12A:9-404 applies with respect to defenses or claims of an account debtor;
(11) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) liens on real property in 12A:9-203 and 12A:9-308;
(B) fixtures in 12A:9-334; and
(C) fixture filings in 12A:9-501, 12A:9-502, 12A:9-512 , 12A:9-516 and 12A:9-519; and
(D) security agreements covering personal and real property in 12A:9-604;
(12) an assignment of a claim arising in tort, other than a commercial tort claim, but 12A:9-315 and 12A:9-322 apply with respect to proceeds and priorities in proceeds;
(13) an assignment of a deposit account in a consumer transaction, but 12A:9-315 and 12A:9-322 apply with respect to proceeds and priorities in proceeds; or
(14) a transfer by a government or governmental unit.
Cite this article: FindLaw.com - New Jersey Statutes Title 12A. Commercial Transactions 12A § 9-109 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-12a-commercial-transactions/nj-st-sect-12a-9-109/
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