12A:2A-307 Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
12A:2A-307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
(1)Except as otherwise provided in 12A:2A-306, a creditor of a lessee takes subject to the lease contract.(2)Except as otherwise provided in subsection (3) and in 12A:2A-306 and 12A:2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.
(3)Except as otherwise provided in 12A:9-317, 12A:9-321 and 12A:9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.
L.1994, c.114, s.1; amended 2001, c.117, s.12; 2001, c.386, s.132.
Section: Previous 12a-2a-221 12a-2a-301 12a-2a-302 12a-2a-303 12a-2a-304 12a-2a-305 12a-2a-306 12a-2a-307 12a-2a-308 12a-2a-309 12a-2a-310 12a-2a-311 12a-2a-401 12a-2a-402 12a-2a-403 Next
Last modified: October 11, 2016