<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="9-110" title_number="9" title_name="Secured Transactions" subtitle_number="1" subtitle_name="General Provisions">
  <text>A security interest arising under § 2-401, § 2-505, § 2-711(3), or § 2A-508(5) of this article is subject to this title. However, until the debtor obtains possession of the goods:</text>
  <level label="1">
    <text>The security interest is enforceable, even if § 9-203(b)(3) has not been satisfied;</text>
  </level>
  <level label="2">
    <text>Filing is not required to perfect the security interest;</text>
  </level>
  <level label="3">
    <text>The rights of the secured party after default by the debtor are governed by Title 2 or 2A of this article; and</text>
  </level>
  <level label="4">
    <text>The security interest has priority over a conflicting security interest created by the debtor.</text>
  </level>
</section>
