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2011 Vermont Code
Title 09A Uniform Commercial Code
Article 9 Secured Transactions
§ 325 Priority of security interests in transferred collateral

Universal Citation:
9A VT Stats § 9-325. (2011 through Adj Sess)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

§ 9-325. Priority of security interests in transferred collateral

(a) 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) 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). (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)

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