Idaho § 28-9-317 INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN

Idaho Statutes

§ 28-9-317 — INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 3. PERFECTION AND PRIORITY·Ch. 9 SECURED TRANSACTIONS

(a)A security interest or agricultural lien is subordinate to the rights of:

(1)A person entitled to priority under section 28-9-322, Idaho Code; and

(2)Except as otherwise provided in subsection (e) of this section, a person that becomes a lien creditor before the earlier of the time:

(A)the security interest or agricultural lien is perfected; or

(B)one (1) of the conditions specified in section 28-9-203 (b)(3), Idaho Code, is met and a financing statement covering the collateral is filed.

(b)Except as otherwise provided in subsection (e) of this section, a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery

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(a) A security interest or agricultural lien is subordinate to the rights of:
(1) A person entitled to priority under section 28-9-322, Idaho Code; and
(2) Except as otherwise provided in subsection (e) of this section, a person that becomes a lien creditor before the earlier of the time:
(A) the security interest or agricultural lien is perfected; or
(B) one (1) of the conditions specified in section 28-9-203 (b)(3), Idaho Code, is met and a financing statement covering the collateral is filed.
(b) Except as otherwise provided in subsection (e) of this section, a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
(c) Except as otherwise provided in subsection (e) of this section, a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
(d) A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.
(e) Except as otherwise provided in sections 28-9-320 and 28-9-321, Idaho Code, if a person files a financing statement with respect to a purchase-money security interest before or within twenty (20) days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.

Idaho § 28-9-317 (INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.