11 §9-1110. Security interests arising under Article 2 or 2-A
Title 11: UNIFORM COMMERCIAL CODE
Article 9-A: TRANSACTIONS HEADING: PL 1999, C. 699, PT. A, §2 (NEW)
Part 1: GENERAL PROVISIONS HEADING: PL 1999, C. 699, PT. A, §2 (NEW)
Subpart 2: APPLICABILITY OF ARTICLE HEADING: PL 1999, C. 699, PT. A, §2 (NEW)
§9-1110. Security interests arising under Article 2 or 2-A
A security interest arising under section 2-401, 2-505, 2-711, subsection (3), or 2-1508, subsection (5) is subject to this Article. However, until the debtor obtains possession of the goods: [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]
(1). The security interest is enforceable, even if section 9-1203, subsection (2), paragraph (c) has not been satisfied;
[ 1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF) .]
(2). Filing is not required to perfect the security interest;
[ 1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF) .]
(3). The rights of the secured party after default by the debtor are governed by Article 2 or 2-A; and
[ 1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF) .]
(4). The security interest has priority over a conflicting security interest created by the debtor.
[ 1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF) .]
SECTION HISTORY
1999, c. 699, §A2 (NEW). 1999, c. 699, §A4 (AFF).