Section 440.9339 – Priority Subject to Subordination.
440.9339 Priority subject to subordination. Sec. 9339. This article does not preclude subordination by agreement by a person entitled to priority. History: Add. 2000, Act 348, Eff. July 1, 2001
Section 440.9340 – Effectiveness of Right of Recoupment or Setoff Against Deposit Account.
440.9340 Effectiveness of right of recoupment or setoff against deposit account. Sec. 9340. (1) Except as otherwise provided in subsection (3), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account. (2) Except as otherwise […]
Section 440.9325 – Priority of Security Interests in Transferred Collateral.
440.9325 Priority of security interests in transferred collateral. Sec. 9325. (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 all of the following are met: (a) The debtor acquired the collateral subject to the […]
Section 440.9326 – Priority of Security Interests Created by New Debtor.
440.9326 Priority of security interests created by new debtor. Sec. 9326. (1) Subject to subsection (2), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest […]
Section 440.9327 – Priority of Security Interests in Deposit Account.
440.9327 Priority of security interests in deposit account. Sec. 9327. The following rules govern priority among conflicting security interests in the same deposit account: (a) A security interest held by a secured party having control of the deposit account under section 9104 has priority over a conflicting security interest held by a secured party that […]
Section 440.9328 – Priority of Security Interests in Investment Property.
440.9328 Priority of security interests in investment property. Sec. 9328. The following rules govern priority among conflicting security interests in the same investment property: (a) A security interest held by a secured party having control of investment property under section 9106 has priority over a security interest held by a secured party that does not […]
Section 440.9329 – Priority of Security Interests in Letter-of-Credit Right.
440.9329 Priority of security interests in letter-of-credit right. Sec. 9329. The following rules govern priority among conflicting security interests in the same letter-of-credit right: (a) A security interest held by a secured party having control of the letter-of-credit right under section 9107 has priority to the extent of its control over a conflicting security interest […]
Section 440.9330 – Priority of Purchaser of Chattel Paper or Instrument.
440.9330 Priority of purchaser of chattel paper or instrument. Sec. 9330. (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 both of the following are met: (a) In good faith and in the ordinary […]
Section 440.9331 – 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.
440.9331 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. Sec. 9331. (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 […]
Section 440.9322 – Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral.
440.9322 Priorities among conflicting security interests in and agricultural liens on same collateral. Sec. 9322. (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 […]