§ 554.9317

554.9317 Interests that take priority over or take free of security interest or agricultural lien. 1. Conflicting security interests and rights of lien creditors. A security interest or agricultural lien is subordinate to the rights of: a. a person entitled to priority under section 554.9322; andb. except as otherwise provided in subsection 5, a person that becomes a lien creditor before the earlier of the time: (1) The security interest or agricultural lien is perfected; or(2) One of the conditions specified in section 554.9203, subsection 2, paragraph 'c' is met and a financing statement covering the collateral is filed. 2. Buyers that receive delivery. Except as otherwise provided in subsection 5, a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments,or a certificated security takes free of a security interest or agricultural lien if the buyer givesvalue and receives delivery of the collateral without knowledge of the security interest oragricultural lien and before it is perfected. 3. Lessees that receive delivery. Except as otherwise provided in subsection 5, a lessee of goods takes free of a security interest or agricultural

est oragricultural lien and before it is perfected. 3. Lessees that receive delivery. Except as otherwise provided in subsection 5, a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receivesdelivery of the collateral without knowledge of the security interest or agricultural lien andbefore it is perfected. 4. Licensees and buyers of certain collateral. A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents,goods, instruments, or a certificated security takes free of a security interest if the licenseeor buyer gives value without knowledge of the security interest and before it is perfected. 5. Purchase-money security interest. Except as otherwise provided in sections 554.9320 and 554.9321, if a person files a financing statement with respect to a purchase-moneysecurity interest before or within twenty days after the debtor receives delivery of thecollateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditorwhich arise between the time the security interest attaches and the time of filing.

delivery of thecollateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditorwhich arise between the time the security interest attaches and the time of filing. 2000 Acts, ch 1149, §37, 185, 187; 2007 Acts, ch 30, §45, 46, 74; 2012 Acts, ch 1052, §8, 37Referred to in §554.13307 Sat Dec 23 11:01:53 2023 Iowa Code 2024, Section 554.9317 (29, 0)