2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 93 - Perfection and Priority
Section 9331 - Priority of rights of purchasers of instruments, documents and securities under other divisions; priority of interests in financial assets and security entitlements under Division 8

     § 9331.  Priority of rights of purchasers of instruments,
                documents and securities under other divisions;
                priority of interests in financial assets and
                security entitlements under Division 8.
        (a)  Rights under Divisions 3, 7 and 8 not limited.--This
     division does not limit the rights of a holder in due course of
     a negotiable instrument, a holder to which a negotiable document
     of title has been duly negotiated or a protected purchaser of a
     security. These holders or purchasers take priority over an
     earlier security interest, even if perfected, to the extent
     provided in Divisions 3 (relating to negotiable instruments), 7
     (relating to warehouse receipts, bills of lading and other
     documents of title) and 8 (relating to investment securities).
        (b)  Protection under Division 8.--This division does not
     limit the rights of or impose liability on a person to the
     extent that the person is protected against the assertion of a
     claim under Division 8.
        (c)  Filing not notice.--Filing under this division does not
     constitute notice of a claim or defense to the holders,
     purchasers or persons described in subsections (a) and (b).

        Cross References.  Section 9331 is referred to in sections
     9322, 9330 of this title.