PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS,
AND SECURITIES UNDER OTHER ARTICLES; PRIORITY OF INTERESTS
IN FINANCIAL ASSETS AND SECURITY ENTITLEMENTS UNDER ARTICLE 8
(a) This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Articles 3, 7, and 8 of this title.
(b) This article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Article 8 of this title.
(c) Filing under this article does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (a) and (b) of this section.
Added by Laws 2000, c. 371, § 58, eff. July 1, 2001.