ORS 79A.1100: UCC 9-110. Security interests arising under ORS chapter 72 or 72A.

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:

      (1) The security interest is enforceable, even if ORS 79A.2030 (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. [Formerly 79.0110]

EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT

(Effectiveness and Attachment)