(a) A security interest in crops is a production-money security interest to the extent that the crops are production-money crops.(b) If the extent to which a security interest is a production-money security interest depends on the application of a payment to a particular obligation, the payment must be applied:(1) In accordance with any reasonable method of application to which the parties agree;(2) In the absence of the parties' agreement to a reasonable method, in accordance with any intention of the obligor manifested at or before the time of payment; or(3) In the absence of an agreement to a reasonable method and a timely manifestation of the obligor's intention, in the following order:(A) To obligations that are not secured; and(B) If more than one obligation is secured, to obligations secured by production-money security interests in the order in which those obligations were incurred.(c) A production-money security interest does not lose its status as such, even if:(1) The production-money crops also secure an obligation that is not a production-money obligation;(2) Collateral that is not production-money crops also secures the production-money obligation; or(3) The he production-money crops also secure an obligation that is not a production-money obligation;(2) Collateral that is not production-money crops also secures the production-money obligation; or(3) The production-money obligation has been renewed, refinanced, or restructured.(d) A secured party claiming a production-money security interest has the burden of establishing the extent to which the security interest is a production-money security interest.
West Virginia Legal Code