(a)Except as
otherwise provided in subsection (g) of this section, a perfected purchase-money
security interest in goods other than inventory or livestock has priority over a
conflicting security interest in the same goods, and, except as otherwise provided
in section 4-9-327, a perfected security interest in its identifiable proceeds also has
priority, if the purchase-money security interest is perfected when the debtor
receives possession of the collateral or within twenty days thereafter, or, if the
collateral is a motor vehicle, as defined in section 42-6-102, C.R.S., within thirty
days thereafter.
(b)Subject to subsection (c) of this section and except as otherwise provided
in subsection (g) of this section, a perfected purchase-money security interest in
inventory has pr
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(a) Except as
otherwise provided in subsection (g) of this section, a perfected purchase-money
security interest in goods other than inventory or livestock has priority over a
conflicting security interest in the same goods, and, except as otherwise provided
in section 4-9-327, a perfected security interest in its identifiable proceeds also has
priority, if the purchase-money security interest is perfected when the debtor
receives possession of the collateral or within twenty days thereafter, or, if the
collateral is a motor vehicle, as defined in section 42-6-102, C.R.S., within thirty
days thereafter.
(b) Subject to subsection (c) of this section and except as otherwise provided
in subsection (g) of this section, a perfected purchase-money security interest in
inventory has priority over a conflicting security interest in the same inventory, has
priority over a conflicting security interest in chattel paper or an instrument
constituting proceeds of the inventory and in proceeds of the chattel paper, if so
provided in section 4-9-330, and, except as otherwise provided in section 4-9-327,
also has priority in identifiable cash proceeds of the inventory to the extent the
identifiable cash proceeds are received on or before the delivery of the inventory to
a buyer, if:
(1) The purchase-money security interest is perfected when the debtor
receives possession of the inventory;
(2) The purchase-money secured party sends a signed notification to the
holder of the conflicting security interest;
(3) The holder of the conflicting security interest receives the notification
within five years before the debtor receives possession of the inventory; and
(4) The notification states that the person sending the notification has or
expects to acquire a purchase-money security interest in inventory of the debtor
and describes the inventory.
(c) Paragraphs (2) to (4) of subsection (b) of this section apply only if the
holder of the conflicting security interest had filed a financing statement covering
the same types of inventory:
(1) If the purchase-money security interest is perfected by filing, before the
date of the filing; or
(2) If the purchase-money security interest is temporarily perfected without
filing or possession under section 4-9-312 (f), before the beginning of the twenty-day period thereunder.
(d) Subject to subsection (e) of this section and except as otherwise provided
in subsection (g) of this section, a perfected purchase-money security interest in
livestock that are farm products has priority over a conflicting security interest in
the same livestock, and, except as otherwise provided in section 4-9-327, a
perfected security interest in their identifiable proceeds and identifiable products
in their unmanufactured states also has priority, if:
(1) The purchase-money security interest is perfected when the debtor
receives possession of the livestock;
(2) The purchase-money secured party sends a signed notification to the
holder of the conflicting security interest;
(3) The holder of the conflicting security interest receives the notification
within six months before the debtor receives possession of the livestock; and
(4) The notification states that the person sending the notification has or
expects to acquire a purchase-money security interest in livestock of the debtor
and describes the livestock.
(e) Paragraphs (2) to (4) of subsection (d) of this section apply only if the
holder of the conflicting security interest had filed a financing statement covering
the same types of livestock:
(1) If the purchase-money security interest is perfected by filing, before the
date of the filing; or
(2) If the purchase-money security interest is temporarily perfected without
filing or possession under section 4-9-312 (f), before the beginning of the twenty-day period thereunder.
(f) Except as otherwise provided in subsection (g) of this section, a perfected
purchase-money security interest in software has priority over a conflicting security
interest in the same collateral, and, except as otherwise provided in section 4-9-327, a perfected security interest in its identifiable proceeds also has priority, to
the extent that the purchase-money security interest in the goods in which the
software was acquired for use has priority in the goods and proceeds of the goods
under this section.
(g) If more than one security interest qualifies for priority in the same
collateral under subsection (a), (b), (d), or (f) of this section:
(1) A security interest securing an obligation incurred as all or part of the
price of the collateral has priority over a security interest securing an obligation
incurred for value given to enable the debtor to acquire rights in or the use of
collateral; and
(2) In all other cases, section 4-9-322 (a) applies to the qualifying security
interests.