47-9325. Priority of security interests in transferred collateral
A. Except as otherwise provided in subsection B of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
1. The debtor acquired the collateral subject to the security interest created by the other person;
2. The security interest created by the other person was perfected when the debtor acquired the collateral; and
3. There is no period thereafter when the security interest is unperfected.
B. Subsection A of this section subordinates a security interest only if the security interest:
1. Otherwise would have priority solely under section 47-9322, subsection A or section 47-9324; or
2. Arose solely under section 47-2711, subsection C or section 47-2A508, subsection E.
Section: Previous 47-9318 47-9319 47-9320 47-9321 47-9322 47-9323 47-9324 47-9325 47-9326 47-9327 47-9328 47-9329 47-9330 47-9331 47-9332 NextLast modified: October 13, 2016