24.50.020 When Filing Is Required to Perfect Security Interest; Security Interests to Which Filing Provisions of This Article Do Not Apply

(a) A financing statement must be filed to perfect all security interests except the following:

(1) A security interest in collateral in possession of the secured party under Section 24.50.050;

(2) A security interest temporarily perfected in instruments or documents without delivery under Section 24.50.040 or in proceeds for a twenty-day (20) period under Section 24.50.060;

(3) A security interest created by an assignment of a beneficial interest in a trust or a decedent's estate;

(4) A purchase money security interest in consumer goods; but filing is required for a motor vehicle required to be registered; and fixture filing is required for priority over conflicting interests in fixtures to the extent provided in Section 24.50.130;

(5) An assignment of accounts which does not alone or in conjunction with other assignments to the same assignee transfer a significant part of the outstanding accounts of the assignor;

(6) A security interest of a collecting bank (Section 24.21.080) or in securities (Section 24.40.220) or arising under the article on sales (see Section 24.43.030) or covered in Subsection (c) of this section;

(7) An assignment for the benefit of all the creditors of the transferor, and subsequent transfers by the assignee there under.

(b) If a secured party assigns a perfected security interest, no filing under this article is required in order to continue the perfected status of the security interest against creditors of and transferees from the original debtor.

(c) The filing of a financing statement otherwise required by this article is not necessary or effective to perfect a security interest in property subject to:

(1) a statute or treaty of the United States which provides for a national or international registration or a national or international certificate of title or which specifies a place of filing different from that specified in this article for filing of the security interest; or

(2) certificate of title statutes of the Tribe covering automobiles, trailers, mobile homes, boats, farm tractors, and the like, and any central filing statutes; but during any period in which collateral is inventory held for sale by a person who is in the business of selling goods of that kind, the filing provisions of this article (Part 4) apply to a security interest in that collateral created by him or her as debtor; or

(3) a certificate of title statute of another jurisdiction under the law of which indication of a security interest on the certificate is required as a condition of perfection (Section 24.42.030(b).

(d) Compliance with a statute or treaty described in Subsection (c) is equivalent to the filing of a financing statement under this article, and a security interest in property subject to the statute or treaty can be perfected only by compliance therewith except as provided in Chapters 24.42 through 24.48 on multiple state transactions. Duration and renewal of perfection of a security interest perfected by compliance with the statute or treaty are governed by the provisions of the statute or treaty; in other respects the security interest is subject to this article.