(a)__To hold possession of the collateral for the secured party's benefit; or

(b)__To redeliver the collateral to the secured party.

(9)__A secured party does not relinquish possession, even if a delivery under subsection (8) violates the rights of a debtor.__A person to which collateral is delivered under subsection (8) does not owe any duty to the secured party and is not required to confirm the delivery to another person unless the person otherwise agrees or law other than this Article otherwise provides.

Official Comment

1. Source. Former Sections 9305, 9115(6).

2. Perfection by Possession. As under the common law of pledge, no filing is required by this Article to perfect a security interest if the secured party takes possession of the collateral. See Section 9-310(b)(6) [Maine cite section 9-1310, subsection (2), paragraph (f)].

This section permits a security interest to be perfected by the taking of possession only when the collateral is goods, instruments, negotiable documents, money, or tangible chattel paper. Accounts, commercial tort claims, deposit accounts, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction are excluded. (But see Comment 6, below, regarding certificated securities.) A security interest in accounts and payment intangibles-property not ordinarily represented by any writing whose delivery operates to transfer the right to payment-may under this Article be perfected only by filing. This rule would not be affected by the fact that a security agreement or other record described the assignment of such collateral as a "pledge." Section 9-309(2) [Maine cite section 9-1309, subsection (2)] exempts from filing certain assignments of accounts or payment intangibles which are out of the ordinary course of financing. These exempted assignments are perfected when they attach. Similarly, under Section 9-309(3) [Maine cite