(1) the security interest is enforceable, even if Subsection 70A-9a-203(2)(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 Chapter 2, Uniform Commercial Code - Sales or Chapter 2a, Uniform Commercial Code - Leases; and
(4) the security interest has priority over a conflicting security interest created by the debtor.
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