2010 New Hampshire Statutes
TITLE XXXIV-A UNIFORM COMMERCIAL CODE
CHAPTER 382-A UNIFORM COMMERCIAL CODE
Section 382-A:9-325 Priority of Security Interests in Transferred Collateral.

382-A:9-325 Priority of Security Interests in Transferred Collateral. –
       (a) Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b), 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) Limitation of subsection (a) subordination. Subsection (a) subordinates a security interest only if the security interest:
          (1) otherwise would have priority solely under Section 9-322(a) or 9-324; or
          (2) arose solely under Section 2-711(3) or 2A-508(5).

Source. 2001, 102:25, eff. July 1, 2001.