Subsections (e), (f), and (g) [Maine cite subsections (5), (6) and (7)] , which are new, apply to a person in possession of security certificates or holding security certificates for the secured party's benefit under Section 8-301. For delivery to occur when a person other than a secured party holds possession for the secured party, the person may not be a securities intermediary.

Under subsection (e) [Maine cite subsection (5)], a possessory security interest in a certificated security remains perfected until the debtor obtains possession of the security certificate. This rule is analogous to that of Section 9-314(c) [Maine cite section 9-1314, subsection (3)], which deals with perfection of security interests in investment property by control. See Section 9-314 [Maine cite section 9-1314], Comment 3.

7. Goods Covered by Certificate of Title. Subsection (b) [Maine cite subsection (2)] is necessary to effect changes to the choice-of-law rules governing goods covered by a certificate of title. These changes are described in the Comments to Section 9- 311 [Maine cite section 9-1311]. Subsection (b) [Maine cite subsection (2)], like subsection (a) [Maine cite subsection (1)], does not create a right to take possession. Rather, it indicates the circumstances under which the secured party's taking possession of goods covered by a certificate of title is effective to perfect a security interest in the goods: the goods become covered by a certificate of title issued by this State at a time when the security interest is perfected by any method under the law of another jurisdiction.

8. Goods in Possession of Third Party: No Duty to Acknowledge; Consequences of Acknowledgment. Subsections (f) and (g) [Maine cite subsections (6) and (7)] are new and address matters as to which former Article 9 was silent. They derive in part from Section 8-106(g). Subsection (f) [Maine cite subsection (6)] provides that a person in possession of collateral is not required to acknowledge that it holds for a secured party. Subsection (g)(1) [Maine cite subsection (7), paragraph (a)] provides that an acknowledgment is effective even if wrongful as to the debtor. Subsection (g)(2) [Maine cite subsection (7), paragraph (b)] makes clear that an acknowledgment does not give rise to any duties or responsibilities under this Article. Arrangements involving the possession of goods are hardly standardized. They include bailments for services to be