9110 - Security interests arising under Division 2 or 2A. - Pennsylvania Statutes

§ 9110. Security interests arising under Division 2 or 2A. A security interest arising under section 2401 (relating to passing of title; reservation for security; limited application of section), 2505 (relating to shipment by seller under reservation), 2711(c) (relating to security interest of buyer in rejected goods) or 2A508(e) (relating to security interest in goods in lessee's possession) is subject to this division. However, until the debtor obtains possession of the goods: (1) the security interest is enforceable, even if section 9203(b)(3) (relating to enforceability) 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 Division 2 (relating to sales) or 2A (relating to leases); and (4) the security interest has priority over a conflicting security interest created by the debtor. Cross References. Section 9110 is referred to in sections 9109, 9203, 9322 of this title.