Arizona Laws 47-9110. Security interests arising under sales and leases
A security interest arising under section 47-2401 or 47-2505 or section 47-2711, subsection C or section 47-2A508, subsection E is subject to this chapter. However, until the debtor obtains possession of the goods:
Terms Used In Arizona Laws 47-9110
- Debtor: means :
(a) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;
(b) A seller of accounts, chattel paper, payment intangibles or promissory notes; or
(c) A consignee. See Arizona Laws 47-9102
- Goods: means all things that are movable when a security interest attaches. See Arizona Laws 47-9102
- Secured party: means :
(a) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;
(b) A person that holds an agricultural lien;
(c) A consignor;
(d) A person to which accounts, chattel paper, payment intangibles or promissory notes have been sold;
(e) A trustee, indenture trustee, agent, collateral agent or other representative in whose favor a security interest or agricultural lien is created or provided for; or
(f) A person that holds a security interest arising under section 47-2401, 47-2505, 47-2711, 47-2A508, 47-4210 or 47-5118. See Arizona Laws 47-9102
1. The security interest is enforceable, even if section 47-9203, subsection B, paragraph 3 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 2 or 2A of this title; and
4. The security interest has priority over a conflicting security interest created by the debtor.