9201 - General effectiveness of security agreement.
CHAPTER 92 EFFECTIVENESS OF SECURITY AGREEMENT, ATTACHMENT OF SECURITY INTEREST AND RIGHTS OF PARTIES TO SECURITY AGREEMENT Subchapter A. Effectiveness and Attachment B. Rights and Duties Enactment. Chapter 92 was added June 8, 2001, P.L.123, No.18, effective July 1, 2001. Prior Provisions. Former Chapter 92, which related to validity of security agreement and rights of parties thereto, was added November 1, 1979, P.L.255, No.86, and repealed June 8, 2001, P.L.123, No.18, effective July 1, 2001. SUBCHAPTER A EFFECTIVENESS AND ATTACHMENT Sec. 9201. General effectiveness of security agreement. 9202. Title to collateral immaterial. 9203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. 9204. After-acquired property; future advances. 9205. Use or disposition of collateral permissible. 9206. Security interest arising in purchase or delivery of financial asset. § 9201. General effectiveness of security agreement. (a) General effectiveness.--Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral and against creditors. (b) Applicable consumer laws and other law.--A transaction subject to this division is subject to: (1) any applicable rule of law which establishes a different rule for consumers; (2) any other statute or regulation of the Commonwealth which regulates the rates, charges, agreements and practices for loans, credit sales or other extensions of credit; and (3) any consumer protection statute or regulation of the Commonwealth. (c) Other applicable law controls.--In case of conflict between this division 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) Further deference to other applicable law.--This division does not: (1) validate any rate, charge, agreement or practice which 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.