Idaho State Statutes - Idaho Attorney Directory

PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN
STATUTES, REGULATIONS AND TREATIES. (a) Except as otherwise provided in
subsection (d) of this section, the filing of a financing statement is not
necessary or effective to perfect a security interest in property subject to:
(1) A statute, regulation or treaty of the United States whose
requirements for a security interest's obtaining priority over the rights
of a lien creditor with respect to the property preempt section
28-9-310(a);
(2) Section 49-510, Idaho Code; or
(3) A certificate of title statute of another jurisdiction which provides
for a security interest to be indicated on the certificate as a condition
or result of the security interest's obtaining priority over the rights of
a lien creditor with respect to the property.
(b) Compliance with the requirements of a statute, regulation or treaty
described in subsection (a) of this section for obtaining priority over the
rights of a lien creditor is equivalent to the filing of a financing statement
under this chapter. Except as otherwise provided in subsection (d) of this
section and sections 28-9-313 and 28-9-316(d) and (e) for goods covered by a
certificate of title, a security interest in property subject to a statute,
regulation or treaty described in subsection (a) of this section may be
perfected only by compliance with those requirements, and a security interest
so perfected remains perfected notwithstanding a change in the use or transfer
of possession of the collateral.
(c) Except as otherwise provided in subsection (d) of this section and
section 28-9-316(d) and (e), duration and renewal of perfection of a security
interest perfected by compliance with the requirements prescribed by a
statute, regulation or treaty described in subsection (a) of this section are
governed by the statute, regulation or treaty. In other respects, the security
interest is subject to this chapter.
(d) During any period in which collateral subject to a statute specified
in subsection (a)(2) of this section is inventory held for sale or lease by a
person or leased by that person as lessor and that person is in the business
of selling or leasing goods of that kind, this section does not apply to a
security interest in that collateral created by that person as debtor.

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