§490:9-337 Priority of security interests in goods covered by certificate of title. If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this State issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate:
(1) A buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and
(2) The security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under section 490:9-311(b), after issuance of the certificate and without the conflicting secured party's knowledge of the security interest. [L 2000, c 241, pt of §1]
Section: Previous 490-9-330 490-9-331 490-9-332 490-9-333 490-9-334 490-9-335 490-9-336 490-9-337 490-9-338 490-9-339 490-9-340 490-9-341 490-9-342 490-9-401 490-9-402 NextLast modified: October 27, 2016