§ 25-9-110. Security interests arising under Article 2 or 2A of this Chapter. - North Carolina Statutes

§25‑9‑110.  Security interests arising under Article 2 or 2A of thisChapter.

A security interest arisingunder G.S. 25‑2‑401, 25‑2‑505, 25‑2‑711(3),or 25‑2A‑508(5) is subject to this Article. However, until thedebtor obtains possession of the goods:

(1)        The securityinterest is enforceable, even if G.S. 25‑9‑203(b)(3) has not beensatisfied;

(2)        Filing is notrequired to perfect the security interest;

(3)        The rights of thesecured party after default by the debtor are governed by Article 2 or 2A ofthis Chapter; and

(4)        The securityinterest has priority over a conflicting security interest created by thedebtor. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 1993, c. 463,s. 3; 2000‑169, s. 1.)