§ 400-9-333

Title XXVI TRADE AND COMMERCE Chapter 400 • Effective - 01 Jul 2001, see footnote 400.9-333. Priority of certain liens arising by operation of law. — (a) In this section, 'possessory lien' means an interest, other than a security interest or an agricultural lien: (1) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (2) Which is created by statute or rule of law in favor of the person; and (3) Whose effectiveness depends on the person's possession of the goods. (b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise. ­­-------- (L. 2001 S.B. 288) Effective 7-01-01