N.J. Stat. § 12A:9-110

Current through L. 2024, c. 62.

Section 12A:9-110 - Security interests arising under Chapter 2 or 2A

A security interest arising under 12A:2-401, 12A:2-505, 12A:2-711(3), or 12A: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 12A: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.

N.J.S. § 12A:9-110

Enacted c. 117, s. 1, eff. 6/26/2001, op. 7/1/2001.