SECTION 679.325. Priority of security interests in transferred collateral.

Latest version.

1(1) 2Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
31(a) 32The debtor acquired the collateral subject to the security interest created by the other person;
47(b) 48The security interest created by the other person was perfected when the debtor acquired the collateral; and
65(c) 66There is no period thereafter during which the security interest is unperfected.
78(2) 79Subsection (1) subordinates a security interest only if the security interest:
90(a) 91Otherwise would have priority solely under s. 98679.322(1) 99or s. 101679.324; 102or
103(b) 104Arose solely under s. 108672.711(3) 109or s. 111680.508(5)112.

History.-s. 3, ch. 2001-198.

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