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Session Laws, 1999
Volume 796, Page 2091   View pdf image
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(4) THE SECURITY INTEREST IS:

(A) CREATED IN A MANUFACTURED HOME IN A
MANUFACTURED-HOME TRANSACTION; AND

(B) PERFECTED PURSUANT TO A STATUTE DESCRIBED IN §

9-311(A)(2).

(F) A SECURITY INTEREST IN FEATURES, WHETHER OR NOT PERFECTED, HAS
PRIORITY OVER A CONFLICTING INTEREST OF AN ENCUMBRANCER OR OWNER OF
THE REAL PROPERTY IF:

(1) THE ENCUMBRANCER OR OWNER HAS, IN AN AUTHENTICATED
RECORD, CONSENTED TO THE SECURITY INTEREST OR DISCLAIMED AN INTEREST IN
THE GOODS AS FIXTURES; OR

(2) THE DEBTOR HAS A RIGHT TO REMOVE THE GOODS AS AGAINST THE
ENCUMBRANCER OR OWNER

(G) THE PRIORITY OF THE SECURITY INTEREST UNDER SUBSECTION (F)
CONTINUES FOR A REASONABLE TIME IF THE DEBTOR'S RIGHT TO REMOVE THE
GOODS AS AGAINST THE ENCUMBRANCER OR OWNER TERMINATES.

(H) A MORTGAGE IS A CONSTRUCTION MORTGAGE TO THE EXTENT THAT IT
SECURES AN OBLIGATION INCURRED FOR THE CONSTRUCTION OF AN
IMPROVEMENT ON LAND, INCLUDING THE ACQUISITION COST OF THE LAND, IF A
RECORDED RECORD OF THE MORTGAGE SO INDICATES. EXCEPT AS OTHERWISE
PROVIDED IN SUBSECTIONS (E) AND (F), A SECURITY INTEREST IN FIXTURES IS
SUBORDINATE TO A CONSTRUCTION MORTGAGE IF A RECORD OF THE MORTGAGE IS
RECORDED BEFORE THE GOODS BECOME FIXTURES AND THE GOODS BECOME
FIXTURES BEFORE THE COMPLETION OF THE CONSTRUCTION. A MORTGAGE HAS
THIS PRIORITY TO THE SAME EXTENT AS A CONSTRUCTION MORTGAGE TO THE
EXTENT THAT IT IS GIVEN TO REFINANCE A CONSTRUCTION MORTGAGE.

(I) A PERFECTED SECURITY INTEREST IN CROPS GROWING ON REAL
PROPERTY HAS PRIORITY OVER A CONFLICTING INTEREST OF AN ENCUMBRANCER
OR OWNER OF THE REAL PROPERTY IF THE DEBTOR HAS AN INTEREST OF RECORD IN
OR IS IN POSSESSION OF THE REAL PROPERTY.

(J) SUBSECTION (I) PREVAILS OVER ANY INCONSISTENT STATUTES OF THIS
STATE.

9-335. ACCESSIONS.

(A) A SECURITY INTEREST MAY BE CREATED IN AN ACCESSION AND
CONTINUES IN COLLATERAL THAT BECOMES AN ACCESSION.

(B) IF A SECURITY INTEREST IS PERFECTED WHEN THE COLLATERAL
BECOMES AN ACCESSION, THE SECURITY INTEREST REMAINS PERFECTED IN THE
COLLATERAL.

 

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Session Laws, 1999
Volume 796, Page 2091   View pdf image
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