The concept of perfection is tied into quite a number of sections, beginning with 19, which begins by saying that it's perfected when it attaches, which is essentially when the agreement between the parties is in existence. Then, any of the other steps taken by the following sections are taken.

Simplistically, I can say that in the following sections there are three methods identified for perfecting when there is an agreement that exists. One of them is possession of the collateral. The other is registration. The third method is there are a number of instances in which there is temporary perfection provided which is essentially a grace period, typically 15 days, during which time it would be necessary to perfect by either possession or registration of the collateral. The concept is one that's interwoven through all of the priority sections, so it's difficult to summarize much more simply than that.