2000 Minnesota Statutes

     336.9-113 Security interests arising under article on 
  sales or leases. 

    A security interest arising solely under the article on 
 sales (article 2) or the article on leases (article 2A) is 
 subject to the provisions of this article except that to the 
 extent that and so long as the debtor does not have or does not 
 lawfully obtain possession of the goods 

    (a) no security agreement is necessary to make the security 
 interest enforceable; and 

    (b) no filing is required to perfect the security interest; 
 and 

    (c) the rights of the secured party on default by the 
 debtor are governed (i) by the article on sales (article 2) in 
 the case of a security interest arising solely under such 
 article or (ii) by the article on leases (article 2A) in the 
 case of a security interest arising solely under such article. 

    HIST: 1965 c 811 s 336.9-113; 1989 c 232 art 2 s 4 

*   NOTE:  This section is repealed by Laws 2000, chapter 399, 
*article 1, section 140, effective July 1, 2001.  Laws 2000, 
*chapter 399, article 1, section 130.