§9-1317. Interests that take priority over or take free of security interest or agricultural lien (1). A security interest or agricultural lien is subordinate to the rights of: (a). A person entitled to priority under section 9‑1322; and [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 […]
§9-1318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers (1). A debtor that has sold an account, chattel paper, payment intangible or promissory note does not retain a legal or equitable interest in the collateral sold. […]
§9-1319. Rights and title of consignee with respect to creditors and purchasers (1). Except as otherwise provided in subsection (2), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights […]
§9-1320. Buyer of goods (1). Except as otherwise provided in subsection (5), a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer’s seller, even if the security interest is perfected and the buyer knows […]
§9-1321. Licensee of general intangible and lessee of goods in ordinary course of business (1). In this section, “licensee in ordinary course of business” means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible and in […]
§9-1322. Priorities among conflicting security interests in and agricultural liens on same collateral (1). Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules. (a). Conflicting perfected security interests and agricultural liens rank according to priority in time […]
§9-1323. Future advances (1). Except as otherwise provided in subsection (3), for purposes of determining the priority of a perfected security interest under section 9‑1322, subsection (1), paragraph (a), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that: (a). […]
§9-1324-A. Priority of production-money security interests and agricultural liens (1). Except as otherwise provided in subsections (3), (4) and (5), if the requirements of subsection (2) are satisfied, a perfected production-money security interest in production-money crops has priority over a conflicting security interest in the same crops and, except as otherwise provided in section 9‑1327, […]
§9-1324. Priority of purchase-money security interests (1). Except as otherwise provided in subsection (7), a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except as otherwise provided in section 9‑1327, a perfected security interest in its identifiable proceeds also has […]
§9-1325. Priority of security interests in transferred collateral (1). Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (a). The debtor acquired the collateral subject to the security interest created by the other person; […]
§9-1326. Priority of security interests created by new debtor (1). Subject to subsection (2), a security interest that is created by a new debtor is collateral in which the new debtor has or acquires rights and would be ineffective to perfect the security interest but for the application of section 9-1316, subsection (9), paragraph (a) […]
§9-1327. Priority of security interests in deposit account The following rules govern priority among conflicting security interests in the same deposit account. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (1). A security interest held by a secured party having control of the deposit account under […]
§9-1328. Priority of security interests in investment property The following rules govern priority among conflicting security interests in the same investment property. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (1). A security interest held by a secured party having control of investment property under section […]
§9-1329. Priority of security interests in letter-of-credit right The following rules govern priority among conflicting security interests in the same letter-of-credit right. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (1). A security interest held by a secured party having control of the letter-of-credit right under […]
§9-1330. Priority of purchaser of chattel paper or instrument (1). A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed merely as proceeds of inventory subject to a security interest if: (a). In good faith and in the ordinary course of the purchaser’s business, the purchaser […]
§9-1331. Priority of rights of purchasers of instruments, documents and securities under other Articles; priority of interests in financial assets and security entitlements under Article 8 (1). This Article 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 […]
§9-1332. Transfer of money; transfer of funds from deposit account (1). A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, […]
§9-1333. Priority of certain liens arising by operation of law (1). In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien: (a). That secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of […]
§9-1334. Priority of security interests in fixtures and crops (1). A security interest under this Article may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this Article in ordinary building materials incorporated into an improvement on land. [PL 1999, c. […]
§9-1335. Accessions (1). A security interest may be created in an accession and continues in collateral that becomes an accession. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected […]
