2011 Arizona Revised Statutes
Title 47 Uniform Commercial Code
47-9326 Priority of security interests created by new debtor
47-9326. Priority of security interests created by new debtor
A. Subject to subsection B of this section, a security interest that is created by a new debtor and that is perfected by a filed financing statement that is effective solely under section 47-9508 in collateral in which a new debtor has or acquires rights is subordinate to a security interest in the same collateral that is perfected other than by a filed financing statement that is effective solely under section 47-9508.
B. The other provisions of this article determine the priority among conflicting security interests in the same collateral perfected by filed financing statements that are effective solely under section 47-9508. 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.
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