A security interest arising under ORS 72.4010, 72.5050, 72.7110 (3) or 72A.5080 (5) is subject to this chapter. However, until the debtor obtains possession of the goods:\n(1) The security interest is enforceable, even if ORS 79.0203 (2)(c) has not been satisfied;\n(2) Filing is not required to perfect the security interest;\n(3) The rights of the secured party after default by the debtor are governed by ORS chapter 72 or 72A; and\n(4) The security interest has priority over a conflicting security interest created by the debtor. [2001 c.445 §10]
Oregon Legal Code