§ 26-1-9.1-319 — Rights and title of consignee with respect to creditors and purchasers

Indiana § 26-1-9.1-319

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 9.1: Secured Transactions

Text

(a) Except as otherwise provided in
subsection (b), for purposes of determining the rights of creditors of,
and purchasers for value of goods from, a consignee, while the goods
are in the possession of the consignee, the consignee has rights and title
to the goods identical to those the consignor had or had power to
transfer.
(b) For purposes of determining the rights of a creditor of a
consignee, law other than this article determines the rights and title of
a consignee while goods are in the consignee's possession if, under IC 26-1-9.1-301 through IC 26-1-9.1-342, a perfected security interest
held by the consignor would have priority over the rights of the
creditor.

Legislative History

As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.7.