Sec. 9-110. Security interests arising under Article 2 or 2A.
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/il/chapter-810/act-5/9-110A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 9-110. Security interests arising under Article 2 or 2A. A security interest arising under Section 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 Section 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.