8-1463. "Security interest" defined.
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/ks/chapter-8/8-1463A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
8-1463. "Security interest" defined. "Security interest" means an interest in a vehicle reserved or created by agreement and which secures payment or performance of an obligation. The term includes the interest of a lessor under a lease intended as security. A security interest is "perfected" when it is valid against third parties generally, subject only to specific statutory exceptions.