Indiana § 26-1-9.1-325 Priority of security interests in transferred collateral

Indiana Statutes

§ 26-1-9.1-325 — Priority of security interests in transferred collateral

Indiana § 26-1-9.1-325

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-325 (Priority of security interests in transferred collateral) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-9.1-325 (2026).

Text

(a)Except as otherwise provided in subsection (b), 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) subordinates a security interest only if the security interest:

(1)otherwise would have priority solely under IC 26-1-9.1-322(a) or IC 26-1-9.1-324; or

(2)arose solely under IC 26-1-2-711(3) or IC 26-1-2.1-508(5).

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(a) Except as otherwise provided in
subsection (b), 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) subordinates a security interest only if the
security interest:
(1) otherwise would have priority solely under IC 26-1-9.1-322(a)
or IC 26-1-9.1-324; or
(2) arose solely under IC 26-1-2-711(3) or IC 26-1-2.1-508(5).