§ 26-1-9.1-331 — Priority of rights of holders or purchasers; persons protected against adverse claims; filing not considered notice of claim or defense

Indiana § 26-1-9.1-331

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

Text

(a) This article does not limit the rights
of a holder in due course of a negotiable instrument, a holder to which
a negotiable document of title has been duly negotiated, a protected
purchaser of a security, or a qualifying purchaser of a controllable
account, controllable electronic record, or controllable payment
intangible. These holders or purchasers take priority over an earlier
security interest, even if perfected, to the extent provided in IC 26-1-3.1, IC 26-1-7, IC 26-1-8.1, and IC 26-1-12.
(b) This article does not limit the rights of or impose liability on a
person to the extent that the person is protected against the assertion of
an adverse claim under IC 26-1-8.1 or IC 26-1-12.
(c) Filing under IC 26-1-9.1 does not constitute notice of a claim or
defense to the holders, purchasers, or persons described in subsections
(a) and (b).

Legislative History

As added by P.L.57-2000, SEC.45. Amended by P.L.110-2022, SEC.6; P.L.199-2023, SEC.67.