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336.9-110 Security interests arising under article 2 or 2a.

A security interest arising under section 336.2-401, 336.2-505, 336.2-711(3), or 336.2A-508(5) is subject to this article. However, until the debtor obtains possession of the goods:

(1) the security interest is enforceable, even if section 336.9-203(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 article 2 or 2A; and

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

HIST: 2000 c 399 art 1 s 10

* NOTE: This section, as added by Laws 2000, chapter 399, *article 1, section 10, is effective July 1, 2001. Laws 2000, *chapter 399, article 1, section 130.

* NOTE: Minnesota Statutes 1998, section 336.9-110, which *reads as follows, is repealed July 1, 2001. Laws 2000, chapter *399, article 1, section 130.

* "336.9-110 Sufficiency of description.

* For the purposes of this article any description of *personal property or real estate is sufficient whether or not it *is specific if it reasonably identifies what is described."

Official Publication of the State of Minnesota
Revisor of Statutes