(a) Subject to (b) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and that is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of AS 45.29.316 (i)(1) or 45.29.508 is subordinate to a security interest in the same collateral that is perfected other than by a financing statement described in this subsection.
(b) The other provisions of AS 45.29.301 - 45.29.342 determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in (a) of this section. However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.
Section: Previous 45.29.319 45.29.320 45.29.321 45.29.322 45.29.323 45.29.324 45.29.325 45.29.326 45.29.327 45.29.328 45.29.329 45.29.330 45.29.331 45.29.332 45.29.333 NextLast modified: November 15, 2016