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§9-1109
Title 11: UNIFORM COMMERCIAL CODE
Article 9-A: TRANSACTIONS
Part 1: GENERAL PROVISIONS
Subpart 2: APPLICABILITY OF ARTICLE
§9-1201

§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:   [PL 1999, c. 699, Pt. A, §2 (NEW); PL 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;  
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(2).  Filing is not required to perfect the security interest;  
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 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  
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(4).  The security interest has priority over a conflicting security interest created by the debtor.  
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
SECTION HISTORY
PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF).
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