Draft Common Frame of Reference:IX. — 4:104 Fruits and proceeds: general rules

Draft Common Frame of Reference

IX. — 4:104 Fruits and proceeds: general rules

Geldend

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

(1)

Security rights in fruits and proceeds of the following types of assets preserve the priority of the security right in the encumbered original assets:

(a)

fruits and proceeds of the same kind as the assets that were originally encumbered;

(b)

rights to payment due to defects in, damage to, or loss of the assets that were originally encumbered, including insurance proceeds; and

(c)

fruits and proceeds that are covered by the registration of the security right in the assets that were originally encumbered.

(2)

In cases not covered by paragraph (I), the priority of security rights in fruits and proceeds is determined according to the general rules laid down in IX. — 4:101 (Priority: general rules) and IX. — 4:102 (Superpriority).

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