South Carolina Statutes
§ 36-9-325 — Priority of security interests in transferred collateral.
(a)Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
(1)the debtor acquired the collateral subject to the security interest created by the other person;
(2)the security interest created by the other person was perfected when the debtor acquired the collateral; and (3) there is no period thereafter when the security interest is unperfected.
(b)Subsection (a) subordinates a security interest only if the security interest:
(1)otherwise would have priority solely under Section 36-9-322(a) or 36-9-324; or (2) arose solely under Section 36-2-711(3) or 36-2A-508(5).
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South Carolina § 36-9-325 (Priority of security interests in transferred collateral.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2001 Act No. 67, SECTION 12.
Nearby Sections
15
§ 36-9-101
Short title.§ 36-9-102
Definitions and index of definitions.§ 36-9-104
Control of deposit account.§ 36-9-106
Control of investment property.§ 36-9-107
Control of letter-of-credit right.§ 36-9-108
Sufficiency of description.§ 36-9-109
Scope.§ 36-9-111
UCC lien satisfaction.§ 36-9-202
Title to collateral immaterial.