2006 New York Code - Priority Of Security Interests Created By New Debtor

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