Montana § 30-9A-338 Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information

Montana Statutes

§ 30-9A-338 — Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information

Montana § 30-9A-338

Title 30TRADE AND COMMERCE

Ch. 9AUNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 3Perfection and Priority

This text of Montana § 30-9A-338 (Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-9A-338 (2026).

Text

30-9A-338 . Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in 30-9A-516 (2)(e) that is incorrect at the time the financing statement is filed:

(1)the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and

(2)a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect informat

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30-9A-338 . Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in 30-9A-516 (2)(e) that is incorrect at the time the financing statement is filed:
(1) the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and
(2) a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.

Legislative History

En. Sec. 57, Ch. 305, L. 1999; Sec. 30-9-358 , MCA 1999; redes. 30-9A-338 by Code Commissioner, 2001; amd. Sec. 84, Ch. 575, L. 2005; amd. Sec. 113, Ch. 200, L. 2025.