Section 9--108. Sufficiency of Description


Latest version.
  • (a) Sufficiency  of  description.  Except  as  otherwise  provided  in
      subsections (c), (d),  and  (e),  a  description  of  personal  or  real
      property  is sufficient, whether or not it is specific, if it reasonably
      identifies what is described.
        (b) Examples  of  reasonable  identification.  Except   as   otherwise
      provided  in  Section  9--502  and  subsection  (d),  a  description  of
      collateral reasonably identifies the collateral  if  it  identifies  the
      collateral by:
             (1) specific listing;
             (2) category;
             (3) except  as  otherwise  provided  in subsection (e), a type of
                 collateral defined in this chapter;
             (4) quantity;
             (5) computational or allocational formula or procedure; or
             (6) except as otherwise provided in  subsection  (c),  any  other
                 method,  if  the  identity  of  the collateral is objectively
                 determinable.
        (c) Supergeneric  description  not  sufficient.   A   description   of
      collateral  as  "all  the debtor's assets" or "all the debtor's personal
      property" or using words of similar import does not reasonably  identify
      the collateral.
        (d) Investment  property.  Except  as otherwise provided in subsection
      (e), a description of a security  entitlement,  securities  account,  or
      commodity account is sufficient if it describes:
             (1) the collateral by those terms or as investment property; or
             (2) the underlying financial asset or commodity contract.
        (e) When  description by type insufficient. A description only by type
      of collateral defined in this chapter is an insufficient description of:
             (1) a commercial tort claim;
             (2) in  a  consumer  transaction,  consumer  goods,  a   security
                 entitlement, a securities account, or a commodity account; or
             (3) a cooperative interest.