TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 9

SECURED TRANSACTIONS

PART 1.

GENERAL PROVISIONS

28-9-110.  Security interests arising under chapter 2 or 12, title 28, idaho code. A security interest arising under section 28-2-401, 28-2-505, 28-2-711(3) or 28-12-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods:

(1)  The security interest is enforceable, even if section 28-9-203(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 12, title 28, Idaho Code; and

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

History:

[28-9-110, added 2001, ch. 208, sec. 2, p. 722.]