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Session Laws, 1999
Volume 796, Page 2085   View pdf image
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(F) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (G), A PERFECTED
PURCHASE-MONEY SECURITY INTEREST IN SOFTWARE HAS PRIORITY OVER A
CONFLICTING SECURITY INTEREST IN THE SAME COLLATERAL, AND, EXCEPT AS
OTHERWISE PROVIDED IN § 9-327, A PERFECTED SECURITY INTEREST IN ITS
IDENTIFIABLE PROCEEDS ALSO HAS PRIORITY, TO THE EXTENT THAT THE
PURCHASE-MONEY SECURITY INTEREST IN THE GOODS IN WHICH THE SOFTWARE
WAS ACQUIRED FOR USE HAS PRIORITY IN THE GOODS AND PROCEEDS OF THE
GOODS UNDER THIS SECTION.

(G) IF MORE THAN ONE SECURITY INTEREST QUALIFIES FOR PRIORITY IN THE
SAME COLLATERAL UNDER SUBSECTION (A), SUBSECTION (B), SUBSECTION (D), OR
SUBSECTION (F):

(1) A SECURITY INTEREST SECURING AN OBLIGATION INCURRED AS ALL
OR PART OF THE PRICE OF THE COLLATERAL HAS PRIORITY OVER A SECURITY
INTEREST SECURING AN OBLIGATION INCURRED FOR VALUE GIVEN TO ENABLE THE
DEBTOR TO ACQUIRE RIGHTS IN OR THE USE OF COLLATERAL; AND

(2) IN ALL OTHER CASES, § 9-322(A) APPLIES TO THE QUALIFYING
SECURITY INTERESTS.

9-325. PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL.

(A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (B), A SECURITY
INTEREST CREATED BY A DEBTOR IS SUBORDINATE TO A SECURITY INTEREST IN THE
SAME COLLATERAL CREATED BY ANOTHER PERSON IF:

(1) THE DEBTOR ACQUIRED THE COLLATERAL SUBJECT TO THE
SECURITY INTEREST CREATED BY THE OTHER PERSON;

(2) THE SECURITY INTEREST CREATED BY THE OTHER PERSON WAS
PERFECTED WHEN THE DEBTOR ACQUIRED THE COLLATERAL; AND

(3) THERE IS NO PERIOD THEREAFTER WHEN THE SECURITY INTEREST
IS UNPERFECTED.

(B) SUBSECTION (A) SUBORDINATES A SECURITY INTEREST ONLY IF THE
SECURITY INTEREST:

(1) OTHERWISE WOULD HAVE PRIORITY SOLELY UNDER § 9-322(A) OR §

9-324; OR

(2) AROSE SOLELY UNDER § 2-711(3) OR § 2A-508(5) OF THIS ARTICLE.
9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR

(A) SUBJECT TO SUBSECTION (B), A SECURITY INTEREST CREATED BY A NEW
DEBTOR WHICH IS PERFECTED BY A FILED FINANCING STATEMENT THAT IS
EFFECTIVE SOLELY UNDER § 9-508 IN COLLATERAL IN WHICH A NEW DEBTOR HAS
OR ACQUIRES RIGHTS IS SUBORDINATE TO A SECURITY INTEREST IN THE SAME
COLLATERAL WHICH IS PERFECTED BY ANOTHER METHOD.

 

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Session Laws, 1999
Volume 796, Page 2085   View pdf image
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