§ 6A-9-325 - Priority of security interests in transferred collateral. - Rhode-island Statutes

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SECTION 6A-9-325

§ 6A-9-325 Priority of security interestsin transferred collateral. – (a) Subordination of security interest in transferred collateral. Exceptas otherwise provided in subsection (b), a security interest created by adebtor is subordinate to a security interest in the same collateral created byanother person if:

(1) The debtor acquired the collateral subject to thesecurity interest created by the other person;

(2) The security interest created by the other person wasperfected when the debtor acquired the collateral; and

(3) There is no period thereafter when the security interestis unperfected.

(b) Limitation of subsection (a) subordination.Subsection (a) subordinates a security interest only if the security interest:

(1) Otherwise would have priority solely under §6A-9-322(a) or 6A-9-324; or

(2) Arose solely under § 6A-2-711(3) or 6A-2.1-508(5).

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-9 > 6a-9-325

SECTION 6A-9-325

§ 6A-9-325 Priority of security interestsin transferred collateral. – (a) Subordination of security interest in transferred collateral. Exceptas otherwise provided in subsection (b), a security interest created by adebtor is subordinate to a security interest in the same collateral created byanother person if:

(1) The debtor acquired the collateral subject to thesecurity interest created by the other person;

(2) The security interest created by the other person wasperfected when the debtor acquired the collateral; and

(3) There is no period thereafter when the security interestis unperfected.

(b) Limitation of subsection (a) subordination.Subsection (a) subordinates a security interest only if the security interest:

(1) Otherwise would have priority solely under §6A-9-322(a) or 6A-9-324; or

(2) Arose solely under § 6A-2-711(3) or 6A-2.1-508(5).

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State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-9 > 6a-9-325

SECTION 6A-9-325

§ 6A-9-325 Priority of security interestsin transferred collateral. – (a) Subordination of security interest in transferred collateral. Exceptas otherwise provided in subsection (b), a security interest created by adebtor is subordinate to a security interest in the same collateral created byanother person if:

(1) The debtor acquired the collateral subject to thesecurity interest created by the other person;

(2) The security interest created by the other person wasperfected when the debtor acquired the collateral; and

(3) There is no period thereafter when the security interestis unperfected.

(b) Limitation of subsection (a) subordination.Subsection (a) subordinates a security interest only if the security interest:

(1) Otherwise would have priority solely under §6A-9-322(a) or 6A-9-324; or

(2) Arose solely under § 6A-2-711(3) or 6A-2.1-508(5).