Oregon Statutes - Chapter 79 - Secured Transactions - Section 79.0331 - UCC 9-331. Priority of rights of purchasers of instruments, documents and securities under ORS chapters 73, 77 and 78; priority of interests in financial assets and security entitlements under ORS chapter 78.

(1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in ORS chapters 73, 77 and 78.

(2) This chapter does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under ORS chapter 78.

(3) Filing under this chapter does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (1) and (2) of this section. [2001 c.445 §51]

Section:  Previous  79.0324  79.0325  79.0326  79.0327  79.0328  79.0329  79.0330  79.0331  79.0332  79.0333  79.0334  79.0335  79.0336  79.0337  79.0338  Next

Last modified: August 7, 2008