Section 4-9-325 - 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 § 4-9-322(a) or § 4-9-324; or(2) arose solely under § 4-2-711(3) or § 4-2A-508(5).Acts 2001, No. 1439, § 1.