(a) If livestock subject to an owner's lien are commingled with other livestock in a manner that the identity of the specific livestock subject to the owner's lien cannot be determined by reasonable means, the owner's lien continues without interruption into and attaches to the commingled livestock and is perfected automatically as of the date of its original perfection but only as to the percentage of the commingled livestock equal to the number of livestock to which the owner's lien originally attached.
(b) An owner's lien in commingled livestock under subsection (a) of this section has priority over any security interest or other lien that is not an owner's lien or permitted lien regardless of whether the security interest or other lien has been properly perfected.
(c) If more than one (1) owner's lien attaches to commingled livestock, the owners' liens rank equally in the proportion that the respective sales prices secured by each owner's lien bear as a percentage of the total of the sales prices secured by all owners' liens applicable at the time the livestock were commingled.
Section: Previous 2-32-402 2-32-403 2-32-404 2-32-405 2-32-406 2-32-407 2-32-408 2-32-409 2-32-410 2-32-411 NextLast modified: November 15, 2016