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Searching 2021-2022 Session

The Vermont Statutes Online


Title 9A : Uniform Commercial Code


(Cite as: 9A V.S.A. § 9-325)
  • § 9-325. Priority of security interests in transferred collateral

    (a) Except as otherwise provided in subsection (b) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:

    (1) the debtor acquired the collateral subject to the security interest created by the other person;

    (2) the security interest created by the other person was perfected when the debtor acquired the collateral; and

    (3) there is no period thereafter when the security interest is unperfected.

    (b) Subsection (a) of this section subordinates a security interest only if the security interest:

    (1) otherwise would have priority solely under subsection 9- 322(a) or section 9- 324 of this title; or

    (2) arose solely under subsection 2- 711(3) or 2A- 508(5) of this title. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)