Effective: July 1, 2001
Latest Legislation: Senate Bill 74 - 124th General Assembly
(A) Except as otherwise provided in division (B) of this section, 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) Division (A) of this section subordinates a security interest only if the security interest:
(1) Otherwise would have priority solely under division (A) of section 1309.322 or section 1309.324 of the Revised Code; or
(2) Arose solely under division (C) of section 1302.85 or division (E) of section 1310.54 of the Revised Code.