Section 9--110. Security Interests Arising Under Article 2 or 2-A.

A security interest arising under Section 2--401, 2--505, 2--711(3),
or 2-A-508(5) is subject to this article. However, until the debtor
obtains possession of the goods:

(1) the security interest is enforceable, even if Section

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 Article 2 or 2-A; and

(4) the security interest has priority over a conflicting

security interest created by the debtor.