Section 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; [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).](b). The security interest created by the other person was perfected when the debtor acquired the collateral; and [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).](c). There is no period thereafter when the security interest is unperfected. [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).] [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]
(2). Subsection (1) subordinates a security interest only if the security interest:(a). Otherwise would have priority solely under section 9-1322, subsection (1) or section 9-1324; or [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).](b). Arose solely under section 2-711, subsection (3) or section 2-1508. [2001, c. 286, §2(AMD).] [2001, c. 286, §2(AMD).]
1999, c. 699, §A2 (NEW) . 1999, c. 699, §A4 (AFF) . 2001, c. 286, § 2 (AMD) .