Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.

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(1) Except as otherwise provided in section 4-2.5-306, a creditor of a lessee takes subject to the lease contract.

  1. Except as otherwise provided in subsection (3) of this section and in sections 4-2.5306 and 4-2.5-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.

  2. Except as otherwise provided in sections 4-9-317, 4-9-321, and 4-9-323, a lesseetakes a leasehold interest subject to a security interest held by a creditor of the lessor.

Source: L. 91: Entire article added, p. 292, § 1, effective July 1, 1992. L. 2001: Entire section R&RE, p. 1440, § 25, effective July 1.


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