2017 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.
