Ch. 78             1997 Session Laws of Kansas             295

Be it enacted by the Legislature of the State of Kansas:

Section 1. K.S.A. 84-9-302 is hereby amended to read as follows: 84-
9-302. (1) A financing statement must be filed to perfect all security in-
terests except the following:

296             1997 Session Laws of Kansas             Ch. 78

(a) A security interest in collateral in possession of the secured party
under K.S.A. 84-9-305 and amendments thereto;

(b) a security interest temporarily perfected in instruments, certifi-
cated securities or documents without delivery under K.S.A. 84-9-304 and
amendments thereto or in proceeds for a ten-day period under K.S.A.
84-9-306 and amendments thereto;

(c) a security interest created by an assignment of a beneficial interest
in a trust or a decedent's estate;

(d) a purchase money security interest in a consumer good with a
purchase price of $1,000 $3,000 or less, other than a vehicle in which a
security interest is subject to perfection under subsection (3), but filing
is required to perfect a security interest in a vessel as defined in K.S.A.
82a-802, and amendments thereto, and a fixture filing is required for
priority over conflicting security interests in a fixture as provided in K.S.A.
84-9-313, and amendments thereto;

(e) an assignment of accounts which does not alone or in conjunction
with other assignments to the same assignee transfer a significant part of
the outstanding accounts of the assignor;

(f) a security interest of a collecting bank (K.S.A. 84-4-208 and
amendments thereto) or arising under the article on sales (see K.S.A. 84-
9-113 and amendments thereto) or covered in subsection (3);

(g) an assignment for the benefits of all creditors of the transferor
and subsequent transfers by the assignee thereunder;

(h) a security interest in investment property which is perfected with-
out filing under K.S.A. 84-9-115 or 84-9-116.

(2) If a secured party assigns a perfected security interest, no filing
under this article is required in order to continue the perfected status of
the security interest against creditors of and transferees from the original
debtor.

(3) A security interest in:

(a) Property subject to a statute of the United States which provides
for national registration or filing of such security interests in such prop-
erty; or

(b) property subject to a statute of this state which provides for cen-
tral filing of such property; or

(c) a vehicle (except a vehicle held as inventory for sale), subject to a
statute of this state which requires indication on a certificate of title or a
duplicate thereof of such security interests in such vehicle; or

(d) a manufactured home or a mobile home (except a manufactured
home or mobile home held as inventory for sale), subject to a statute of
this state which requires indication on a certificate of title or a duplicate
thereof of such security interest in such manufactured home or mobile
home:

Can be perfected only by presentation, for the purpose of such regis-
tration or such filing or such indication, of the documents appropriate

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under any such statute to the public official appropriate under any such
statute and tender of the required fee to or acceptance of the documents
by such public official, or by the mailing or delivery by a dealer or secured
party to the appropriate state agency of a notice of security interest as
prescribed by K.S.A. 8-135 and amendments thereto. Such presentation
and tender or acceptance, or mailing or delivery, shall have the same
effect under this article as filing under this article, and such perfection
shall have the same effect under this article as perfection by filing under
this article.

Sec. 2. K.S.A. 84-9-302 is hereby repealed.

Sec. 3. This act shall take effect and be in force from and after its
publication in the statute book.

Approved April 7, 1997.