N.D. Cent. Code § 41-09-10

Current through the 2023 Legislative Sessions
Section 41-09-10 - (9-110) Security interests arising under chapter 41-02 or 41-021

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.

N.D.C.C. § 41-09-10