A.R.S. § 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:

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.