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§9-337. Priority of security interests in goods covered by certificate of title


Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

009

:
Secured Transactions











 

§

9-337. Priority of security interests in goods covered by certificate of title

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 that 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:

(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 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 section 9-311(b), after issuance of the

certificate and without the conflicting secured party's knowledge of the

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