Judgment liens: priority.

Existing law provides that a judgment lien on personal property is a lien on all interests in specified personal property, including accounts receivable, chattel paper, equipment, farm products, inventory, and negotiable documents of title, that are subject to enforcement of a money judgment against the judgment debtor at the time the lien is created if a security interest in the property could be perfected by filing a financing statement at that time with the Secretary of State, as specified. This bill would provide, with respect to those judgment liens on specified personal property, that the judgment debtor or subject property must be located in this state. This bill would also remove the requirement that a security interest in the property could be perfected at the time the lien is created. The bill would exclude from the operation of these provisions personal property that is as-extracted collateral, as defined, and timber to be cut. Existing law provides that priority between a judgment lien on personal property and a conflicting security interest in the same personal property shall be determined according to priority in time of filing or perfection. This bill would make agricultural liens on personal property also subject to this provision in determining priority of conflicting interests, except as provided. Existing law provides that, in order to levy an execution lien or attachment lien upon a deposit account, the levying officer shall personally serve a copy of the writ and a notice of levy on the financial institution with which the deposit account is maintained, or shall personally serve the writ and notice of levy to a centralized location within the county as designated by the financial institution. This bill would instead provide that the levying officer shall personally serve the writ and notice of levy to a centralized location within the state as designated by the financial institution. The bill would make other technical and nonsubstantive changes.