Sec. 9.110.  SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 2A.  A security interest arising under Section 2.401, 2.505, 2.711(c), or 2A.508(e) is subject to this chapter.  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 Chapter 2 or 2A;  and
(4)  the security interest has priority over a conflicting security interest created by the debtor.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.