Section 9--326. Priority of Security Interests Created by New Debtor  


Latest version.
  • (a) Subordination  of security interest created by new debtor. Subject
      to subsection (b), a security interest created by a new debtor which  is
      perfected  by a filed financing statement that is effective solely under
      Section 9--508 in collateral in which  a  new  debtor  has  or  acquires
      rights  is  subordinate  to  a  security interest in the same collateral
      which is perfected other than by a filed  financing  statement  that  is
      effective solely under Section 9--508.
        (b) Priority  under  other  provisions; multiple original debtors. The
      other provisions of this part determine the priority  among  conflicting
      security  interests  in the same collateral perfected by filed financing
      statements that are effective solely under Section 9--508.  However,  if
      the  security  agreements  to  which a new debtor became bound as debtor
      were not entered into by  the  same  original  debtor,  the  conflicting
      security  interests  rank  according  to  priority  in  time  of the new
      debtor's having become bound.