CONCLUSION AND RECOMMENDATION [22] In view of the fact that the ULCC Model Personal Property Security Act is no longer of significance in the development of this area of the law in Canada, there is little point in recommending that the Model Act be amended to incorporate the changes set out in the Appendix to this report. [...] (3) If the law governing the perfection of a security interest referred to in subsection(1) or (2) does not provide for public registration or recording of the security interest or a notice relating to it and the collateral is not in the possession of the secured party, the security interest is subordinate to: (a) an interest in an account payable in [this jurisdiction], or (b) an interest in good. [...] (8)For the purposes of this section, a debtor is located, (a) if the debtor is an individual, in the jurisdiction where the debtor's principal residence is located, (b) if the debtor is a partnership, other than a limited partnership, and the partnership agreement governing the partnership states that the agreement is governed by the laws of a province or territory of Canada, in that province or t. [...] (10)For the purposes of this section, a debtor continues to be located in the jurisdiction specified in subsection (8) despite, (a) in the case of a debtor who is an individual, the death or incapacity of the individual; and (b) in the case of any other debtor, the suspension, revocation, forfeiture or lapse of the debtor's status in its jurisdiction of incorporation, continuation, amalgamation or. [...] (10)For the purpose of ascertaining the location of the debtor in order to determine the law governing the effect of perfection or of non-perfection, and the priority, of a prior security interest in relation to an interest, other than a security interest in the same collateral arising before this provision comes into force, prior law continues to apply and subsections 7 (8), (9) and (10) do not a.
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