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General Laws

Section 9-110. A security interest arising under Section 2-401, 2-505, 2-711(3), or 2A-508(5) shall be subject to this article, but 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.

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