North Dakota § 41-09-53 (9-333) Priority of certain liens arising by operation of law

North Dakota Statutes

§ 41-09-53 — (9-333) Priority of certain liens arising by operation of law

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-09 Secured Transactions

1.In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

a.Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

b.Which is created by statute or rule of law in favor of the person; and

c.Whose effectiveness depends on the person's possession of the goods.

2.A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

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1. In this section, "possessory lien" means an interest, other than a security interest or an
agricultural lien:
a. Which secures payment or performance of an obligation for services or materials
furnished with respect to goods by a person in the ordinary course of the person's
business;
b. Which is created by statute or rule of law in favor of the person; and
c. Whose effectiveness depends on the person's possession of the goods.
2. A possessory lien on goods has priority over a security interest in the goods unless the
lien is created by a statute that expressly provides otherwise.

North Dakota § 41-09-53 ((9-333) Priority of certain liens arising by operation of law) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.