§ 47-35-02 — Cash proceeds - Priority

North Dakota § 47-35-02

• Jurisdiction: North Dakota
• Title 47: Property
• Ch. 47-35: Security Interest in Rents

Text

1. An assignee's security interest in identifiable cash proceeds is perfected if its security
interest in rents is perfected. An assignee's security interest in identifiable noncash
proceeds is perfected only if the assignee perfects that interest in accordance with
chapter 41-09.
2. Except as otherwise provided in subsection 3, priority between an assignee's security
interest in identifiable proceeds and a conflicting interest is governed by the priority
rules in chapter 41-09.
3. An assignee's perfected security interest in identifiable cash proceeds is subordinate
to a conflicting interest that is perfected by control under chapter 41-09 but has priority
over a conflicting interest that is perfected other than by control.