A security interest arising under section 41-02-46, section 41-02-53, subsection 3 of section 41-02-90, or subsection 5 of section 41-02.1-56 is subject to this chapter. However, until the debtor obtains possession of the goods:
1. The security interest is enforceable, even if subdivision c of subsection 2 of section 41-09-13 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 41-02 or 41-02.1; and
4. The security interest has priority over a conflicting security interest created by the debtor.
Notes of Decisions
Cited in
9
cases, 1984–1996 · leading case:
Thompson v. Danner, 507 N.W.2d 550 (N.D. 1993).
Thompson v. Danner, 507 N.W.2d 550 (N.D. 1993).
· cites it 2× “” N.D.C.C. § 41-09-10 [U.C.C. § 9-110], In this case, the trial court found “there was no question” which farmlands were intended by the Danners and the Bank to be covered by their security agreement.”
Armstrong v. United States (In Re Nelson), 45 B.R. 443 (Bankr. D.N.D. 1984).
· cites it 5× “CONCLUSIONS OF LAW The issue is whether the notice provided by the financing statements was sufficient in its description of collateral to satisfy North Dakota Century Code § 41-09-10 (U.C.C. § 9-110). Section 41-09-10 provides: Except as provided in section 41-09-41 on formal…”
Armstrong v. Hustad (In Re Flaten), 50 B.R. 186 (Bankr. D.N.D. 1985).
“Thus, in this instance, the contract must reflect that the parties intended that the Hustads would retain a security interest in the equipment.”
W.F.J., Inc. v. Bank of Tioga, 605 F. Supp. 39 (D.N.D. 1984).
· cites it 2× “N.D.Cent.Code § 41-09-10 (1983) provides: [A]ny description of personal property .”
In Re MacK, 93 B.R. 695 (Bankr. D.N.D. 1988).
· cites it 2× “§ 9-402(1)) setting forth the formal requirements of a financing statement provides: When the financing statement covers crops growing or to be grown, the statement must also contain a description of the real estate concerned.”
Armstrong v. Mack (In re Mack), 93 B.R. 695 (Bankr. D.N.D. 1988).
· cites it 2× “§ 9-402(1)) setting forth the formal requirements of a financing statement provides: When the financing statement covers crops growing or to be grown, the statement must also contain a description of the real estate concerned.”
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