North Dakota Code 41-09-10 – (9-110) Security interests arising under chapter 41-02 or 41-02.1
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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:
Terms Used In North Dakota Code 41-09-10
- Debtor: means a natural person whose name was provided in a financing statement record as an individual debtor or one of the types of persons listed in section 41-09-76. See North Dakota Code 41-10-01
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.