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N.D. Cent. Code § 41-09-10

(9-110) Security interests arising under chapter 41-02 or 41-02.1

Known as the Uniform Commercial Code

The act spans §§ 41–41 (597 sections).

A security interest arising under section 41-02-46, section 41-02-53, subsection 3 of section 41-02-90, or subsection 5 of section 41-02.1-56 is subject to this chapter. However, until the debtor obtains possession of the goods:

1. The security interest is enforceable, even if subdivision c of subsection 2 of section 41-09-13 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 41-02 or 41-02.1; and 4. The security interest has priority over a conflicting security interest created by the debtor.

Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.