PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR
(a) Subject to subsection (b) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and perfected by a filed financing statement that would be ineffective to perfect the security interest but for the application of Section 1-9-508 of this title or Section 1-9-508 and paragraph (l) of subsection (i) of Section 1-9-316 of this title is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.
(b) The other provisions of this part determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (a) of this section. However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.
Added by Laws 2000, c. 371, § 53, eff. July 1, 2001. Amended by Laws 2015, c. 374, § 7, eff. Nov. 1, 2015.