Arizona § 47-9333 Priority of certain liens arising by operation of law

Arizona Statutes

§ 47-9333 — Priority of certain liens arising by operation of law

Arizona·Title 47 Arizona Revised Statutes·Ch. 9 SECURED TRANSACTIONS·Art. 3 Perfection and Priority

A.In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

1.That secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

2.That is created by statute or rule of law in favor of the person; and

3.Whose effectiveness depends on the person's possession of the goods.

B.A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

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A. In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

1. That secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

2. That is created by statute or rule of law in favor of the person; and

3. Whose effectiveness depends on the person's possession of the goods.

B. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

Arizona § 47-9333 (Priority of certain liens arising by operation of law) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.