§ 41-09-46 — (9-326) Priority of security interests created by new debtor

1. Subject to subsection 2, a security interest that is created by a new debtor in collateral
in which the new debtor has or acquired rights and perfected by a filed financing
statement that would be ineffective to perfect the security interest but for the
application of section 41-09-79 or of section 41-09-79 and subdivision a of
subsection 9 of section 41-09-36 is subordinate to a security interest in the same
collateral which is perfected other than by such a filed financing statement.
2. The other provisions of this part determine the priority among conflicting security
interests in the same collateral perfected by filed financing statements described in
subsection 1. However, if the security agreements to which a new debtor became
bound as debtor were not entered into by the same original debtor, the conflicting
security interests rank according to priority in time of the new debtor's having become
bound.