Section 20
Perfection where goods in hands of bailee
ActIn forceProvision 19 of 87
Section 20
A security interest in goods in the possession of a bailee may be perfected when —
(a)
the security interest has been created and a financing statement relating to the goods is registered;
(b)
possession of a negotiable document of title to the goods has been delivered to the secured party; or
(c)
the bailee has issued a document of title in the name of the secured party or holds the goods on behalf of the secured party.
Secured Transactions
B.L.R.O. 8/2022 23