Cite as: 80 CNCA § 9-110

Security Interests Arising Under Article 2 or 2A

A security interest arising under 80 CNCA § 2–401, 2–505, 2–711(3), or 2A–508(5) is subject to this article. However, until the debtor obtains possession of the goods:

(1) the security interest is enforceable, even if 80 CNCA § 9–203(b)(3) has not been satisfied;

(2) filing is not required to perfect the security interest;

(3) the rights of the secured party after default by the debtor are governed by Article 2 or 2A; and

(4) the security interest has priority over a conflicting security interest created by the debtor.

Historical Data

LA 26–03, eff. October 2, 2003.