Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

pecnv.out

TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 9
SECURED TRANSACTIONS
PART 3.
PERFECTION AND PRIORITY
28-9-325.  Priority of security interests in transferred collateral. (a) Except as otherwise provided in subsection (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)  Subsection (a) of this section subordinates a security interest only if the security interest:
(1)  Otherwise would have priority solely under section 28-9-322(a) or 28-9-324; or
(2)  Arose solely under section 28-2-711(3) or 28-12-508(5).

History:
[28-9-325, added 2001, ch. 208, sec. 2, p. 748.]


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