Costa Rica

The new Law on Security Interests (Law No. 9246) of Costa Rica entered into force on May 20, 2014. Their registry of security interests on personal property started operations on the same date.

The law is based on the OAS Inter-American Model Law on Secured Transactions. Interestingly, the law excludes from its scope security interests in motor vehicles (Article 4), and preserves the car registry in which rights in and claims to vehicles may be registered.

Links:

“COSTA RICA: New Law Promotes Use of Trademarks and Other Forms of IP as Collateral for Security Interests” 

“Costa Rica: Time for Secured Transactions”

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