1(1) 2Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules:28(a) 29Conflicting perfected security interests and agricultural liens rank according to priority in time of filing or perfection. Priority dates from the earlier of the time a filing covering the collateral is first made or the security interest or agricultural lien is first perfected, if there is no period thereafter during which is neither filing nor perfection.
85(b) 86A perfected security interest or agricultural lien has priority over a conflicting unperfected security interest or agricultural lien.
104(c) 105The first security interest or agricultural lien to attach or become effective has priority if conflicting security interests and agricultural liens are unperfected.
128(2) 129For the purposes of paragraph (1)(a):135(a) 136The time of filing or perfection as to a security interest in collateral is also the time of filing or perfection as to a security interest in proceeds; and
165(b) 166The time of filing or perfection as to a security interest in collateral supported by a supporting obligation is also the time of filing or perfection as to a security interest in the supporting obligation.
201(3) 202Except as otherwise provided in subsection (6), a security interest in collateral which qualifies for priority over a conflicting security interest under s. 225679.327, 226s. 227679.328, 228s. 229679.329, 230s. 231679.330, 232or s. 234679.331 235also has priority over a conflicting security interest in:244(a) 245Any supporting obligation for the collateral; and
252(b) 253Proceeds of the collateral if:2581. 259The security interest in proceeds is perfected;
2662. 267The proceeds are cash proceeds or of the same type as the collateral; and
2813. 282In the case of proceeds that are proceeds of proceeds, all intervening proceeds are cash proceeds, proceeds of the same type as the collateral, or an account relating to the collateral.
313(4) 314Subject to subsection (5) and except as otherwise provided in subsection (6), if a security interest in chattel paper, deposit accounts, negotiable documents, instruments, investment property, or letter-of-credit rights is perfected by a method other than filing, conflicting perfected security interests in proceeds of the collateral rank according to priority in time of filing.
368(5) 369Subsection (4) applies only if the proceeds of the collateral are not cash proceeds, chattel paper, negotiable documents, instruments, investment property, or letter-of-credit rights.
393(6) 394Subsections (1) through (5) are subject to:401(a) 402Subsection (7) and the other provisions of this part;
411(b) 412Section 413674.2101 414with respect to a security interest of a collecting bank; 424(c) 425Section 426675.118 427with respect to a security interest of an issuer or nominated person; and 440(d) 441Section 442679.1101 443with respect to a security interest arising under chapter 672 or chapter 680. 456(7) 457A perfected agricultural lien on collateral has priority over a conflicting security interest in or agricultural lien on the same collateral if the statute creating the agricultural lien so provides.
