LD 2245
pg. 88
Page 87 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 89 of 493
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LR 1087
Item 1

 
9-1325] applies. Thus, if Lender's security interest in the
example was created not by Seller but by the person from whom
Seller acquired the goods, Section 9-325 [Maine cite section 9-
1325] would govern.

 
5. Relationship to Other Rights and Remedies Under Articles 2
and 2A. This Article does not specifically address the conflict
between (i) a security interest created by a buyer or lessee and
(ii) the seller's or lessor's right to withhold delivery under
Section 2-702(1), 2-703(a), or 2A-525, the seller's or lessor's
right to stop delivery under Section 2-705 or 2A-526, or the
seller's right to reclaim under Section 2-507(2) or 2-702(2).
These conflicts are governed by the first sentence of Section 2-
403(1), under which the buyer's secured party obtains no greater
rights in the goods than the buyer had or had power to convey, or
Section 2A-307(1), under which creditors of the lessee take
subject to the lease contract.

 
PART 2

 
EFFECTIVENESS OF SECURITY AGREEMENT;

 
ATTACHMENT OF SECURITY INTEREST;

 
RIGHTS OF PARTIES TO SECURITY AGREEMENT

 
SUBPART 1

 
EFFECTIVENESS AND ATTACHMENT

 
§9-1201.__General effectiveness of security agreement

 
(1)__Except as otherwise provided in this Title, a security
agreement is effective according to its terms between the
parties, against purchasers of the collateral and against
creditors.

 
(2)__A transaction subject to this Article is subject to
provisions of Title 9-A, or to Title 30-A, sections 3960 to 3964-
A.

 
(3)__In case of conflict between this Article and a rule of
law, statute or rule described in subsection (2), the rule of
law, statute or rule controls.__Failure to comply with a statute
or rule described in subsection (2) has only the effect the
statute or rule specifies.

 
(4)__This Article does not:

 
(a) Validate any rate, charge, agreement or practice that
violates a rule of law, statute or rule described in
subsection (2); or


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