9-110 - Security Interests Arising Under Article 2 or 2-A - New York Statutes

Section 9--110. Security Interests Arising Under Article 2 or 2-A. A security interest arising under Section 2--401, 2--505, 2--711(3), or 2-A-508(5) is subject to this article. However, 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 2-A; and (4) the security interest has priority over a conflicting security interest created by the debtor.