§490:9-330  Priority of purchaser of chattel
paper or instrument.  (a)  A purchaser of chattel paper has priority over a
security interest in the chattel paper which is claimed merely as proceeds of
inventory subject to a security interest if:



(1)  In good faith and in the ordinary course of the
purchaser's business, the purchaser gives new value and takes possession of the
chattel paper or obtains control of the chattel paper under section 490:9-105;
and



(2)  The chattel paper does not indicate that it has
been assigned to an identified assignee other than the purchaser.



(b)  A purchaser of chattel paper has priority
over a security interest in the chattel paper which is claimed other than
merely as proceeds of inventory subject to a security interest if the purchaser
gives new value and takes possession of the chattel paper or obtains control of
the chattel paper under section 490:9-105 in good faith, in the ordinary course
of the purchaser's business, and without knowledge that the purchase violates
the rights of the secured party.



(c)  Except as otherwise provided in section
490:9-327, a purchaser having priority in chattel paper under subsection (a) 
or (b) also has priority in proceeds of the chattel paper to the extent that:



(1)  Section 490:9-322 provides for priority in the
proceeds; or



(2)  The proceeds consist of the specific goods
covered by the chattel paper or cash proceeds of the specific goods, even if
the purchaser's security interest in the proceeds is unperfected.



(d)  Except as otherwise provided in section
490:9-331(a), a purchaser of an instrument has priority over a security
interest in the instrument perfected by a method other than possession if the
purchaser gives value and takes possession of the instrument in good faith and
without knowledge that the purchase violates the rights of the secured party.



(e)  For purposes of subsections (a) and (b),
the holder of a purchase-money security interest in inventory gives new value
for chattel paper constituting proceeds of the inventory.



(f)  For purposes of subsections (b) and (d),
if chattel paper or an instrument indicates that it has been assigned to an
identified secured party other than the purchaser, a purchaser of the chattel
paper or instrument has knowledge that the purchase violates the rights of the
secured party. [L 2000, c 241, pt of §1]