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2283 — Puerto Rico Law | CourtGPT
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  3. Puerto Rico/
  4. Title Nineteen - Negotiable Instruments (§§ 1-24 — 2409)/
  5. Subtitle 2 - Commercial Transactions/
  6. Chapter 55a - Secured Transactions Sub/
  7. Subchapter III - Perfection and Priority § 2279a - Priority of Security Interests in Life Insurance Policy/
  8. 2283
Puerto Rico Legal Code

2283

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(a) Possessory lien.— In this section, 'possessory lien' means an interest, other than a security interest or an agricultural lien:\n(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;\n(2) which is created by operation of law in favor of the person, and\n(3) whose effectiveness depends on the person's possession of the goods.\n(b) Priority of possessory lien.— 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.\nHistory —Sept. 19, 1996, No. 241, added as § 9-333 on Jan. 17, 2012, No. 21, § 11, eff. 1 year after Jan. 17, 2012.