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The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : Secured Transactions

(Cite as: 9A V.S.A. § 9-201)
  • § 9-201. General effectiveness of security agreement

    (a) 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) A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers and (i) any other Vermont statute or regulation that regulates loans, credit sales, or other extensions of credit; and (ii) 9 V.S.A. chapter 63.

    (c) In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b) of this section, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) of this section 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) of this section; or

    (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)