(A) As used in this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass.
(B) A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass that results when goods become commingled goods.
(C) If collateral becomes commingled goods, a security interest attaches to the product or mass.
(D) If a security interest in collateral is perfected before the collateral becomes commingled goods, the security interest that attaches to the product or mass under division (C) of this section is perfected.
(E) Except as otherwise provided in division (F) of this section, the other provisions of sections 1309.301 to 1309.342 of the Revised Code determine the priority of a security interest that attaches to the product or mass under division (C) of this section.
(F) If more than one security interest attaches to the product or mass under division (C) of this section, the following rules determine priority:
(1) A security interest that is perfected under division (D) of this section has priority over a security interest that is unperfected at the time the collateral becomes commingled goods.
(2) If more than one security interest is perfected under division (D) of this section, the security interests rank equally in proportion to the value of the collateral at the time it became commingled goods.
Effective Date: 07-01-2001
Section: Previous 1309.329 1309.330 1309.331 1309.332 1309.333 1309.334 1309.335 1309.336 1309.337 1309.338 1309.339 1309.340 1309.341 1309.342 1309.401 NextLast modified: October 10, 2016