Michigan Compiled Laws 174-1962-9-3-3. Subpart 3. Priority (440.9317...440.9339)

• Section 440.9317 Interests That Take Priority Over Or Take Free Of Unperfected Security Interest Or Agricultural Lien.
  (1) A security interest or agricultural lien is subordinate to the rights of 1 or more of the following: (a) A person entitled to...
• Section 440.9318 No Interest Retained In Right To Payment That Is Sold; Rights And Title Of Seller Of Account Or Chattel Paper With Respect To Creditors And Purchasers.
  (1) A debtor that has sold an account, chattel paper, payment intangibles, or promissory note does not retain a legal or equitable interest in...
• Section 440.9319 Rights And Title Of Consignee With Respect To Creditors And Purchasers.
  (1) Except as otherwise provided in subsection (2), for purposes of determining the rights of creditors of, and purchasers for value of goods from,...
• Section 440.9320 Buyer Of Goods.
  (1) Except as otherwise provided in subsection (5), a buyer in ordinary course of business, other than a person buying farm products from a...
• Section 440.9321 Licensee Of General Intangible And Lessee Of Goods In Ordinary Course Of Business.
  (1) As used in this section, “licensee in ordinary course of business” means a person that becomes a licensee of a general intangible in...
• Section 440.9322 Priorities Among Conflicting Security Interests In And Agricultural Liens On Same Collateral.
  (1) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to...
• Section 440.9323 Future Advances.
  (1) Except as otherwise provided in subsection (3), for purposes of determining the priority of a perfected security interest under section 9322(1)(a), perfection of...
• Section 440.9324 Priority Of Purchase-money Security Interests.
  (1) Except as otherwise provided in subsection (7), a perfected purchase-money security interest in goods other than inventory or livestock has priority over a...
• Section 440.9325 Priority Of Security Interests In Transferred Collateral.
  (1) Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same...
• Section 440.9326 Priority Of Security Interests Created By New Debtor.
  (1) Subject to subsection (2), a security interest that is created by a new debtor in collateral in which the new debtor has or...
• Section 440.9327 Priority Of Security Interests In Deposit Account.
  The following rules govern priority among conflicting security interests in the same deposit account: (a) A security interest held by a secured party having...
• Section 440.9328 Priority Of Security Interests In Investment Property.
  The following rules govern priority among conflicting security interests in the same investment property: (a) A security interest held by a secured party having...
• Section 440.9329 Priority Of Security Interests In Letter-of-credit Right.
  The following rules govern priority among conflicting security interests in the same letter-of-credit right: (a) A security interest held by a secured party having...
• Section 440.9330 Priority Of Purchaser Of Chattel Paper Or Instrument.
  (1) A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed merely as proceeds of inventory...
• Section 440.9331 Priority Of Rights Of Purchasers Of Instruments, Documents, And Securities Under Other Articles; Priority Of Interests In Financial Assets And Security Entitlements Under Article 8.
  (1) This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable...
• Section 440.9332 Transfer Of Money; Transfer Of Funds From Deposit Account.
  (1) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating...
• Section 440.9333 Priority Of Certain Liens Arising By Operation Of Law.
  (1) As used in this section, “possessory lien” means an interest, other than a security interest or an agricultural lien, that meets all of...
• Section 440.9334 Priority Of Security Interests In Fixtures And Crops.
  (1) A security interest under this article may be created in goods that are fixtures or may continue in goods that become fixtures. A...
• Section 440.9335 Accessions.
  (1) A security interest may be created in an accession and continues in collateral that becomes an accession. (2) If a security interest is...
• Section 440.9336 Commingled Goods.
  (1) As used in this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity...
• Section 440.9337 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...
• Section 440.9338 Priority Of Security Interests Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information.
  If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 9516(2)(e) that is incorrect at...
• Section 440.9339 Priority Subject To Subordination.
  This article does not preclude subordination by agreement by a person entitled to priority. History: Add. 2000, Act 348, Eff. July 1, 2001

Last modified: October 10, 2016