§ 34.1-9-325 — 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:
(i) The debtor acquired the collateral subject to the
security interest created by the other person;
(ii) The security interest created by the other
person was perfected when the debtor acquired the collateral;
and
(iii) There is no period thereafter when the security
interest is unperfected.
(b) Subsection (a) subordinates a security interest only
if the security interest:
(i) Otherwise would have priority solely under
section 34.1-9-322(a) or 34.1-9-324; or
(ii) Arose solely under section 34.1-2-711(c) or
34.1-2A-508(e).