This Article also contains new rules that determine which State's law governs perfection and priority of a security interest in a deposit account (Section 9-304) [Maine cite section 9-1304], priority of conflicting security interests in and set- off rights against a deposit account (Sections 9-327, 9-340) [Maine cite sections 9-1327, 9-1340], the rights of transferees of funds from an encumbered deposit account (Section 9-332) [Maine cite section 9-1332], the obligations of the bank (Section 9-341) [Maine cite section 9-1341], enforcement of security interests in a deposit account (Section 9-607(c)) [Maine cite section 9-1607, subsection (3)], and the duty of a secured party to terminate control of a deposit account (Section 9-208(b)) [Maine cite section 9-1208, subsection (2)].

§9-1110.__Security interests arising under Article 2 or 2-A

A security interest arising under section 2-401, 2-505, 2-711, subsection (3), or 2-1508, subsection (5) is subject to this Article.__However, until the debtor obtains possession of the goods:

(1)__The security interest is enforceable, even if section 9- 1203, subsection (2), paragraph (c) has not been satisfied;

(2)__Filing is not required to perfect the security interest;

(3)__The rights of the secured party after default by the debtor are governed by Article 2 or 2-A; and

(4)__The security interest has priority over a conflicting security interest created by the debtor.

Official Comments

1. Source. Former Section 9-113.

2. Background. Former Section 9-113, from which this section derives, referred generally to security interests "arising solely under the Article on Sales (Article 2) or the Article on Leases (Article 2A)." Views differed as to the precise scope of that section. In contrast, Section 9-110 [Maine cite section 9-1110] specifies the security interests to which it applies.

3. Security Interests Under Articles 2 and 2A. Section 2-505 explains how a seller of goods may reserve a security