Me. Stat. tit. 11 § 9-1110

Current through 131st (2023-2024) Legislature Chapter 684

Section 9-1110 - Security interests arising under Article 2 or 2-A

A security interest arising under section 2-401, 2-505, 2-711, subsection (3), or 2-1508, subsection (5) is subject to this Article. However, until the debtor obtains possession of the goods: [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

(1). The security interest is enforceable, even if section 9-1203, subsection (2), paragraph (c) has not been satisfied;

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

(2). Filing is not required to perfect the security interest;

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

(3). The rights of the secured party after default by the debtor are governed by Article 2 or 2-A; and

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

(4). The security interest has priority over a conflicting security interest created by the debtor.

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

11 M.R.S. § 9-1110

1999, c. 699, §A2 (NEW) . 1999, c. 699, §A4 (AFF) .