2015 South Carolina Code of Laws
Title 36 - Commercial Code
CHAPTER 9 - COMMERCIAL CODE - SECURED TRANSACTIONS
Section 36-9-110. Security interests arising under Chapter 2.
A security interest arising under Section 36-2-401, 36-2-505, 36-2-711(3), or 36-2A-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods:
(1) the security interest is enforceable, even if Section 36-9-203(b)(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; and
(4) the security interest has priority over a conflicting security interest created by the debtor.
HISTORY: 1962 Code Section 10.9-110; 1966 (54) 2716; 1988 Act No. 494, Section 5; 2001 Act No. 67, Section 12.
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