Idaho § 28-9-325 PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL

Idaho Statutes

§ 28-9-325 — PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL

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

(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).

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(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).

Idaho § 28-9-325 (PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.