Section 9--203. Attachment and Enforceability of Security Interest; Proceeds; Supporting Obligations; Formal Requisites

(a) Attachment. A security interest attaches  to  collateral  when  it
  becomes  enforceable  against the debtor with respect to the collateral,
  unless an agreement expressly postpones the time of attachment.
    (b) Enforceability. Except as otherwise provided  in  subsections  (c)
  through  (i),  a security interest is enforceable against the debtor and
  third parties with respect to the collateral only if:
         (1) value has been given;
         (2) the debtor has rights in  the  collateral  or  the  power  to
             transfer rights in the collateral to a secured party; and
         (3) one of the following conditions is met:
             (A) the  debtor  has  authenticated a security agreement that
                 provides a description of  the  collateral  and,  if  the
                 security  interest covers timber to be cut, a description
                 of the land concerned;
             (B) the collateral is not a certificated security and  is  in
                 the  possession of the secured party under Section 9--313
                 pursuant to the debtor's security agreement;
             (C) the collateral is a certificated security  in  registered
                 form  and  the security certificate has been delivered to
                 the secured party under Section 8--301  pursuant  to  the
                 debtor's security agreement; or
             (D) the  collateral  is  deposit accounts, electronic chattel
                 paper, investment property, or  letter-of-credit  rights,
                 and  the  secured party has control under Section 9--104,
                 9--105,  9--106,  or  9--107  pursuant  to  the  debtor's
                 security agreement.
    (c) Other  UCC provisions. Subsection (b) is subject to Section 4--210
  on the security interest of a collecting bank,  Section  5--118  on  the
  security  interest  of  a  letter-of-credit  issuer or nominated person,