Pennsylvania § 9338 Priority of security interest or agricultural lien perfected by filed financing statement

Pennsylvania Statutes

§ 9338 — Priority of security interest or agricultural lien perfected by filed financing statement

Pennsylvania § 9338

Title 13COMMERCIAL CODE

Ch. 93PERFECTION AND PRIORITY

Subch.PRIORITY

This text of Pennsylvania § 9338 (Priority of security interest or agricultural lien perfected by filed financing statement) 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. § 9338 (2026).

Text

If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 9516(b)(5) (relating to what constitutes filing; effectiveness of filing) which 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 chattel paper,

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If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 9516(b)(5) (relating to what constitutes filing; effectiveness of filing) which 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 chattel paper, tangible documents, goods, instruments or a security certificate, receives delivery of the collateral.

Legislative History

(Apr. 16, 2008, P.L.57, No.13, eff. 60 days) 2008 Amendment.Act 13 amended par. (2). Cross References.Section 9338 is referred to in section 9520 of this title.