Priority of security interests in transferred collateral

  1. Law
  2. Mississippi Code
  3. Regulation of Trade, Commerce and Investments
  4. Uniform Commercial Code-Secured Transactions
  5. Perfection and Priority
  6. Priority
  7. Priority of security interests in transferred collateral

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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.

Subsection (a) subordinates a security interest only if the security interest:

Otherwise would have priority solely under Section 75-9-322(a) or 75-9-324; or

Arose solely under Section 75-2-711(3) or 75-2A-508(5).


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