12A:9-333 Priority of certain liens arising by operation of law.
12A:9-333. Priority of Certain Liens Arising by Operation of Law.
(a)"Possessory lien." In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:
(1)which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;
(2)which is created by statute or rule of law in favor of the person; and
(3)whose effectiveness depends on the person's possession of the goods.
(b)Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.
L.2001, c.117, s.1; amended 2001, c.386, s.49.
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Last modified: October 11, 2016