LD 2245
pg. 174
Page 173 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 175 of 493
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LR 1087
Item 1

 
(a)__The collateral is located in one jurisdiction and
subject to a security interest perfected under the law of
that jurisdiction;

 
(b)__Thereafter the collateral is brought into another
jurisdiction; and

 
(c)__Upon entry into the other jurisdiction, the security
interest is perfected under the law of the other
jurisdiction.

 
(4)__Except as otherwise provided in subsection (5), a
security interest in goods covered by a certificate of title that
is perfected by any method under the law of another jurisdiction
when the goods become covered by a certificate of title from this
State remains perfected until the security interest would have
become unperfected under the law of the other jurisdiction had
the goods not become so covered.

 
(5)__A security interest described in subsection (4) becomes
unperfected as against a purchaser of the goods for value and is
deemed never to have been perfected as against a purchaser of the
goods for value if the applicable requirements for perfection
under section 9-1311, subsection (2) or section 9-1313 are not
satisfied before the earlier of:

 
(a)__The time the security interest would have become
unperfected under the law of the other jurisdiction had the
goods not become covered by a certificate of title from this
State; or

 
(b)__The expiration of 4 months after the goods had become
so covered.

 
(6)__A security interest in deposit accounts, letter-of-credit
rights or investment property that is perfected under the law of
the bank's jurisdiction, the issuer's jurisdiction, a nominated
person's jurisdiction, the securities intermediary's jurisdiction
or the commodity intermediary's jurisdiction, as applicable,
remains perfected until the earlier of:

 
(a)__The time the security interest would have become
unperfected under the law of that jurisdiction; or

 
(b)__The expiration of 4 months after a change of the
applicable jurisdiction to another jurisdiction.

 
(7)__If a security interest described in subsection (6)
becomes perfected under the law of the other jurisdiction before


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