South Carolina Statutes

§ 36-9-323 — Future advances.

South Carolina·Title 36 COMMERCIAL CODE·Ch. 9 COMMERCIAL CODE—SECURED TRANSACTIONS
(a)Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under Section 36-9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:
(1)is made while the security interest is perfected only:
(A)under Section 36-9-309 when it attaches; or (B) temporarily under Section 36-9-312(e), (f), or (g); and (2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under Section 36-9-309 or 36-9-312(e), (f), or (g).
(b)Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent

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Legislative History

HISTORY: 2001 Act No. 67, SECTION 12.

Nearby Sections

15
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