(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