Pennsylvania § 9331 Priority of rights of purchasers of controllable accounts, controllable electronic

Pennsylvania Statutes

§ 9331 — Priority of rights of purchasers of controllable accounts, controllable electronic

Pennsylvania § 9331

Title 13COMMERCIAL CODE

Ch. 93PERFECTION AND PRIORITY

Subch.PRIORITY

This text of Pennsylvania § 9331 (Priority of rights of purchasers of controllable accounts, controllable electronic) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

13 Pa. Cons. Stat. § 9331 (2026).

Text

(a)Rights under Divisions 3, 7, 8 and 12 not limited.--This division 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 Divisions 3 (relating to negotiable instruments), 7 (relating to warehouse receipts, bills of lading and other documents of title), 8 (relating to investment securities) and 12 (relating to controllable electronic records).

(b)Protection under Divisions 8 and 12.--This division does not limit t

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(a) Rights under Divisions 3, 7, 8 and 12 not limited.--This division 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 Divisions 3 (relating to negotiable instruments), 7 (relating to warehouse receipts, bills of lading and other documents of title), 8 (relating to investment securities) and 12 (relating to controllable electronic records).

(b) Protection under Divisions 8 and 12.--This division does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Division 8 or 12.

(c) Filing not notice.--Filing under this division does not constitute notice of a claim or defense to the holders, purchasers or persons described in subsections (a) and (b).

Legislative History

(July 1, 2024, P.L.450, No.41, eff. 60 days) 2024 Amendment.Act 41 amended the section heading and subsecs. (a) and (b). See section 1 of Act 41 in the appendix to this title for special provisions relating to findings and declarations. Cross References.Section 9331 is referred to in sections 9322, 9330 of this title.