Subsection (f) [Maine cite subsection (6)] affords the possibility of 20-day perfection in negotiable documents and goods in the possession of a bailee but not covered by a negotiable document. Subsection (g) [Maine cite subsection (7)] provides for 20-day perfection in certificated securities and instruments. These subsections derive from former Section 9- 305(5). However, the period of temporary perfection has been reduced from 21 to 20 days, which is the time period generally applicable in this Article, and "enforcement" has been added in subsection (g) [Maine cite subsection (7)] as one of the special and limited purposes for which a secured party can release an instrument or certificated security to the debtor and still remain perfected. The period of temporary perfection runs from the date a secured party who already has a perfected security interest turns over the collateral to the debtor. There is no new value requirement, but the turnover must be for one or more of the purposes stated in subsection (f) or (g) [Maine cite subsection (6) or (7)]. The 20-day period may be extended by perfecting as to the collateral by another method before the period expires. However, if the security interest is not perfected by another method until after the 20-day period expires, there will be a gap during which the security interest is unperfected.

Temporary perfection extends only to the negotiable document or goods under subsections (f) [Maine cite subsection (6)] and only to the certificated security or instrument under subsection (g) [Maine cite subsection (7)]. It does not extend to proceeds. If the collateral is sold, the security interest will continue in the proceeds for the period specified in Section 9-315 [Maine cite section 9-1315].

Subsections (f) and (g) [Maine cite subsections (6) and (7)] deal only with perfection. Other sections of this Article govern the priority of a security interest in goods after surrender of the document covering them. In the case of a purchase-money security interest in inventory, priority may be conditioned upon giving notification to a prior inventory financer. See Section 9-324 [Maine cite section 9-1324].

§9-1313.__When possession by or delivery to secured party perfects

security interest without filing

(1)__Except as otherwise provided in subsection (2), a secured party may perfect a security interest in negotiable documents, goods, instruments, money or tangible chattel paper by taking possession of the collateral.__A secured party may perfect