679.325 Priority of security interests in transferred collateral.—(1) Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:(a) The debtor acquired the collateral subject to the security interest created by the other person;(b) The security interest created by the other person was perfected when the debtor acquired the collateral; and(c) There is no period thereafter during which the security interest is unperfected.(2) Subsection (1) subordinates a security interest only if the security interest:(a) Otherwise would have priority solely under s. 679.322(1) or s. 679.324; or(b) Arose solely under s. 672.711(3) or s. 680.508(5).History.—s. 3, ch. 2001-198.
Florida Legal Code