2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 079 - Secured Transactions
Section 79.0337 - UCC 9-337. Priority of security interests in goods covered by certificate of title.

Universal Citation: OR Rev Stat § 79.0337 (2017)

If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title or manufactured structure ownership document or records a manufactured structure in a county deed record and the certificate, document or record does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate, document or record:

(1) A buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate of title or manufactured structure ownership document or recording in the deed record and without knowledge of the security interest; and

(2) The security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under ORS 79.0311 (2), 446.611 or 446.626, after issuance of the certificate of title or manufactured structure ownership document or recording in the deed record and without the conflicting secured party‚Äôs knowledge of the security interest. [2001 c.445 §57; 2003 c.655 §55]

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