Oregon Statutes 79.0110 – UCC 9-110. Security interests arising under ORS chapter 72 or 72A
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A security interest arising under ORS § 72.4010, 72.5050, 72.7110 (3) or 72A.5080 (5) is subject to this chapter. However, until the debtor obtains possession of the goods:
Terms Used In Oregon Statutes 79.0110
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Goods: means all things that are movable when a security interest attaches. See Oregon Statutes 79.0102
- Security agreement: means an agreement that creates or provides for a security interest. See Oregon Statutes 79.0102
(1) The security interest is enforceable, even if ORS § 79.0203 (2)(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 ORS Chapter 72 or 72A; and
(4) The security interest has priority over a conflicting security interest created by the debtor. [2001 c.445 § 10]
EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT
(Effectiveness and Attachment)