§ 9—110.
115 words·~1 min read·
/vt/9-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 9—110. Security interests arising under Article 2 or 2a
A security interest arising under section 2—401, or 2—505, or subsection 2—711(3) or 2A—508(5) of this title is subject to this article. However, until the debtor obtains possession of the goods:
(1)the security interest is enforceable, even if subdivision 9—203(b)(3) of this title 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)