Section 440.9110 - Security interests arising under article 2 or 2A.
UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962
440.9110 Security interests arising under article 2 or 2A.
Sec. 9110.
A security interest arising under section 2401, 2505, 2711(3), or 2A508(5) is subject to this article. However, until the debtor obtains possession of the goods, all of the following apply:
(a) The security interest is enforceable, even if section 9203(2)(c) has not been satisfied.
(b) Filing is not required to perfect the security interest.
(c) The rights of the secured party after default by the debtor are governed by article 2 or 2A.
(d) The security interest has priority over a conflicting security interest created by the debtor.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 2000, Act 348, Eff. July 1, 2001