North Dakota § 41-09-10 (9-110) Security interests arising under chapter 41-02 or 41-02.1

North Dakota Statutes

§ 41-09-10 — (9-110) Security interests arising under chapter 41-02 or 41-02.1

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-09 Secured Transactions

A security interest arising under section 41-02-46, section 41-02-53, subsection 3 of section 41-02-90, or subsection 5 of section 41-02.1-56 is subject to this chapter. However, until the debtor obtains possession of the goods:

1.The security interest is enforceable, even if subdivision c of subsection 2 of section 41-09-13 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 41-02 or 41-02.1; and

4.The security interest has priority over a conflicting security interest created by the debtor.

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A security interest arising under section 41-02-46, section 41-02-53, subsection 3 of section
41-02-90, or subsection 5 of section 41-02.1-56 is subject to this chapter. However, until the
debtor obtains possession of the goods:
1. The security interest is enforceable, even if subdivision c of subsection 2 of section
41-09-13 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
41-02 or 41-02.1; and
4. The security interest has priority over a conflicting security interest created by the
debtor.

North Dakota § 41-09-10 ((9-110) Security interests arising under chapter 41-02 or 41-02.1) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.