(b)__The bailee's receipt of notification of the secured party's interest; or

(c)__Filing as to the goods.

(5)__A security interest in certificated securities, negotiable documents or instruments is perfected without filing or the taking of possession for a period of 20 days from the time it attaches to the extent that it arises for new value given under an authenticated security agreement.

(6)__A perfected security interest in a negotiable document or goods in possession of a bailee, other than one that has issued a negotiable document for the goods, remains perfected for 20 days without filing if the secured party makes available to the debtor the goods or documents representing the goods for the purpose of:

(a)__Ultimate sale or exchange; or

(b)__Loading, unloading, storing, shipping, transshipping, manufacturing, processing or otherwise dealing with them in a manner preliminary to their sale or exchange.

(7)__A perfected security interest in a certificated security or instrument remains perfected for 20 days without filing if the secured party delivers the security certificate or instrument to the debtor for the purpose of:

(a)__Ultimate sale or exchange; or

(b)__Presentation, collection, enforcement, renewal or registration of transfer.

(8)__After the 20-day period specified in subsection (5), (6) or (7) expires, perfection depends upon compliance with this Article.

Official Comment

1. Source. Former Section 9-304, with additions and some changes.

2. Instruments. Under subsection (a) [Maine cite subsection (1)] , a security interest in instruments may be perfected by filing. This rule represents an important change from former Article 9, under which the secured party's taking possession of an instrument was the only method of achieving