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Me. Rev. Stat. tit. 11, § 9-1110

Security interests arising under Article 2 or 2-A

Known as the Uniform Commercial Code

The act spans §§ 2-101 to 9-1709 (548 sections).

PL 1999, c. 699, §A2 (NEW)

A security interest arising under section 2‑401, 2‑505, 2‑711, subsection (3), or 2‑1508, subsection (5) is subject to this Article. However, until the debtor obtains possession of the goods:

(1). The security interest is enforceable, even if section 9‑1203, subsection (2), paragraph (c) 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 2‑A; and

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

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.