(a) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
(1) The debtor acquired the collateral subject to the security interest created by the other person;
(2) The security interest created by the other person was perfected when the debtor acquired the collateral; and
(3) There is no period thereafter when the security interest is unperfected.
(b) Subsection (a) subordinates a security interest only if the security interest:
(1) Otherwise would have priority solely under subsection (a) of section 42a-9-322 or section 42a-9-324; or
(2) Arose solely under subdivision (3) of section 42a-2-711 or subsection (d) of section 42a-2A-724.
(P.A. 01-132, S. 45; P.A. 02-131, S. 101.)
History: P.A. 02-131 amended Subsec. (b)(2) by adding reference to Sec. 42a-2A-724(d).