554.9331 Priority of rights of purchasers of controllable accounts, controllable records, controllable payment intangibles, documents, instruments, and securities underother Articles — priority of interests in financial assets and security entitlements andprotections against assertions of claims under Articles 8 and 14. 1. Rights under Articles 3, 7, 8, and 14 not limited. This Article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document oftitle has been duly negotiated, a protected purchaser of a security, or a qualifying purchaserof a controllable account, controllable electronic record, or controllable payment intangible.These holders or purchasers take priority over an earlier security interest, even if perfected,to the extent provided in Articles 3, 7, 8, and 14. 2. Protection under Articles 8 and 14. This Article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claimunder Article 8 or 14. 3. Filing not notice. Filing under this Article does not constitute notice of a claim or defense to the holders, purchasers, or persons rotected against the assertion of a claimunder Article 8 or 14. 3. Filing not notice. Filing under this Article does not constitute notice of a claim or defense to the holders, purchasers, or persons described in subsections 1 and 2. 2000 Acts, ch 1149, §51, 187; 2022 Acts, ch 1117, §31Referred to in §554.9322, 554.9330 Sat Dec 23 11:01:59 2023 Iowa Code 2024, Section 554.9331 (26, 0)
Iowa Legal Code