A security interest arising under section 554.2401, 554.2505, 554.2711, subsection 3, or section 554.13508, 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 554.9203, 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 13; and
4. the security interest has priority over a conflicting security interest created by the debtor.
2000 Acts, ch 1149, §10, 185, 187
Referred to in § 554.9109, 554.9203, 554.9322
Effective July 1, 2001; 2000 Acts, ch 1149, §187; former section repealed effective July 1, 2001; 2000 Acts, ch 1149, §185, 187; for law prior to July 1, 2001, see Code 2001
Previous Section 554.9109
Next Section 554.9111
© 2002 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Jan 24 10:51:05 CST 2002
URL: /DOCS/IACODE/2001SUPPLEMENT/554/9110.html
jhf