Section 47-9-110 - Security interests arising under Chapter 2 or 2A

A security interest arising under § 47-2-401, § 47-2-505, § 47-2-711(3), or § 47-2A-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods:(1) the security interest is enforceable, even if § 47-9-203(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 Chapter 2 or 2A; and(4) the security interest has priority over a conflicting security interest created by the debtor.Acts 2000, ch. 846, § 1.