N.Y. UCC Law § 9-325
This is the official text of N.Y. UCC Law § 9-325, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Priority of Security Interests in Transferred Collateral
Official statutory text
Section 9--325. Priority of Security Interests in Transferred\n Collateral.\n (a) Subordination of security interest in transferred collateral.\nExcept as otherwise provided in subsection (b), a security interest\ncreated by a debtor is subordinate to a security interest in the same\ncollateral created by another person if:\n (1) the debtor acquired the collateral subject to the security\n interest created by the other person;\n (2) the security interest created by the other person was\n perfected when the debtor acquired the collateral; and\n (3) there is no period thereafter when the security interest is\n unperfected.\n (b) Limitation of subsection (a) subordination. Subsection (a)\nsubordinates a security interest only if the security interest:\n (1) otherwise would have priority solely under Section 9--322(a)\n or 9--324; or\n (2) arose solely under Section 2--711(3) or 2-A-508(5).\n
Status: in_force · Read it on the official government site
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