47-9337. Priority of security interests in
goods covered by certificate of title
If, while a security interest in goods is perfected by any method under the law of
another jurisdiction, this state issues a certificate of title that does not show that
the goods are subject to the security interest or contain a statement that they may be
subject to security interests not shown on the certificate:
1. A buyer of the goods, other than a person in the business of selling goods of
that kind, takes free of the security interest if the buyer gives value and receives
delivery of the goods after issuance of the certificate and without knowledge of the
security interest; and
2. The security interest is subordinate to a conflicting security interest in the
goods that attaches, and is perfected under section 47-9311, subsection B, after issuance
of the certificate and without the conflicting secured party's knowledge of the security
interest.
|