Publications: Secured Transactions

Figuring the Federal Farm Products Rule

Micah Brown, Staff Attorney, National Agricultural Law Center

In some situations, a borrower sells property that is subject to a lender’s security interest. Generally, the lender’s interest will follow the property and the buyer may have to assume the risk of paying twice for the goods, once to the seller-borrower and once to the lender! However, when the security interest is in farm products, such as crops and livestock, this general rule does not apply. Rather, a rule known as the federal farm products rule allows the buyer to take the farm products free and clear of a security interest, but only if certain requirements are satisfied. This series provides lenders and farm product purchasers with an overview of the federal farm products rule and the requirements each party must satisfy in order to reduce their financial risk.  

Figuring the Federal Farm Products Introduction

Figuring the Federal Farm Products Complying with the Notice Requirements

Figuring the Federal Farm Products Notice Expiration & Waiver

Figuring the Federal Farm Products Transactional Requirements

Figuring the Federal Farm Products Buyer Qualifications

Figuring the Federal Farm Products Common Transaction Considerations

Posted: February 15, 2022

U.C.C. Forms and Filing Information

National Agricultural Law Center Staff

This publication provides a state-by-state listing of links to information necessary to file a U.C.C. filing statement and to search the filings, along with the forms necessary to do so.  If an online filing system is available, a link has been provided to it.      Download this article. Posted: April 6, 2020

2005 Commercial Law Update

Keith G. Meyer The Hampton Professor of Law University of Kansas

As of July 1, 2001, all fifty states adopted Revised Article 9 of the Uniform Commercial Code, the first major revision of Article 9 since 1972. In most states, Revised Article 9 became effective on July 1, 2001, ushering in a host of changes to the areas of commercial and secured transactions law. For agriculture, these changes are especially important and present a wealth of pitfalls for even the experienced practitioner. This update provides a discussion of the changes brought by Revised Article 9 and the new law’s application to commercial and secured transactions in the agricultural context.     Download this article Posted: June 26, 2006