13 Pennsylvania Consolidated Statutes § 9331 - Priority Of Rights Of Purchasers Of Instruments, Documents And Securities Under Other Divisions; Priority Of Interests In Financial Assets And Security Entitlements Under Division 8

§ 9331. Priority of rights of purchasers of instruments,

documents and securities under other divisions;

priority of interests in financial assets and

security entitlements under Division 8.

(a) Rights under Divisions 3, 7 and 8 not limited.--This division 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 Divisions 3 (relating to negotiable instruments), 7 (relating to warehouse receipts, bills of lading and other documents of title) and 8 (relating to investment securities).

(b) Protection under Division 8.--This division 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 Division 8.

(c) Filing not notice.--Filing under this division does not constitute notice of a claim or defense to the holders, purchasers or persons described in subsections (a) and (b).

Cross References. Section 9331 is referred to in sections 9322, 9330 of this title.

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Last modified: October 8, 2016