| | | Article resolve the conflict by providing that a security | | interest that remains perfected solely by virtue of Section 9- | | 316(e) [Maine cite section 9-1316, subsection (5)] can be | | (re)perfected by the secured party's taking possession of the | | collateral. These sections contemplate only that taking | | possession of goods covered by a certificate of title will work | | as a method of perfection. None of these sections creates a | | right to take possession. Section 9-609 [Maine cite section 9- | | 1609] and the agreement of the parties define the secured party's | | right to take possession. |
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| | | §9-1312.__Perfection of security interests in chattel paper, |
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| | | deposit accounts, documents, goods covered by |
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| | | documents, instruments, investment property, |
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| | | letter-of-credit rights and money; perfection by |
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| | | permissive filing; temporary perfection without filing |
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| | | or transfer of possession |
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| | | (1)__A security interest in chattel paper, negotiable | | documents, instruments or investment property may be perfected by | | filing. |
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| | | (2)__Except as otherwise provided in section 9-1315, | | subsections (3) and (4) for proceeds: |
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| | | (a)__A security interest in a deposit account may be | | perfected only by control under section 9-1314; |
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| | | (b)__Except as otherwise provided in section 9-1308, | | subsection (4), a security interest in a letter-of-credit | | right may be perfected only by control under section 9-1314; | | and |
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| | | (c)__A security interest in money may be perfected only by | | the secured party's taking possession under section 9-1313. |
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| | | (3)__While goods are in the possession of a bailee that has | | issued a negotiable document covering the goods: |
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| | | (a)__A security interest in the goods may be perfected by | | perfecting a security interest in the document; and |
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| | | (b)__A security interest perfected in the document has | | priority over any security interest that becomes perfected | | in the goods by another method during that time. |
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| | | (4)__While goods are in the possession of a bailee that has | | issued a nonnegotiable document covering the goods, a security | | interest in the goods may be perfected by: |
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