41-09-10. (9-110) Security interests arising under chapter 41-02 or 41-02.1.
99 words·~1 min read·
/nd/title-41/chapter-41-09-secured-transactions/41-09-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A security interest arising under section 41-02-46, section 41-02-53, subsection 3 of section 41-02-90, or subsection 5 of section 41-02.1-56 is subject to this chapter. However, until the debtor obtains possession of the goods:
1. The security interest is enforceable, even if subdivision c of subsection 2 of section
41-09-13 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 chapter
41-02 or 41-02.1; and
4. The security interest has priority over a conflicting security interest created by the
debtor.