§ 554.9326 — Priority of security interests created by new debtor

Iowa § 554.9326

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. Subordination of security interest created by new debtor. Subject to subsection 2, a
security interest that is created by a new debtor in collateral in which the new debtor has or
acquires rights and is perfected solely by a filed financing statement that would be ineffective
to perfect the security interest but for the application of section 554.9316, subsection 9,
paragraph “a”, or section 554.9508 is subordinate to a security interest in the same collateral
which is perfected other than by such a filed financing statement.
2. Priority under other provisions — multiple original debtors. 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 1. 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.