554.2402 Rights of seller’s creditors against sold goods. 1. Except as provided in subsections 2 and 3, rights of unsecured creditors of the seller with respect to goods which have been identified to a contract for sale are subject to thebuyer’s rights to recover the goods under this Article (sections 554.2502 and 554.2716). 2. A creditor of the seller may treat a sale or an identification of goods to a contract for sale as void if as against the creditor a retention of possession by the seller is fraudulent underany rule of law of the state where the goods are situated, except that retention of possessionin good faith and current course of trade by a merchant-seller for a commercially reasonabletime after a sale or identification is not fraudulent. 3. Nothing in this Article shall be deemed to impair the rights of creditors of the sellera. under the provisions of the Article on Secured Transactions (Article 9); orb. where identification to the contract or delivery is made not in current course of trade but in satisfaction of or as security for a preexisting claim for money, security or the likeand is made under circumstances which under any rule of law of the state where the current course of trade but in satisfaction of or as security for a preexisting claim for money, security or the likeand is made under circumstances which under any rule of law of the state where the goodsare situated would apart from this Article constitute the transaction a fraudulent transfer orvoidable preference. [C24, 27, 31, 35, 39, §9955; C46, 50, 54, 58, 62, §554.27; C66, 71, 73, 75, 77, 79, 81, §554.2402]2020 Acts, ch 1062, §61Referred to in §554.1301, 554.7504 Sat Dec 23 01:49:57 2023 Iowa Code 2024, Section 554.2402 (27, 0)
Iowa Legal Code