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§9-1337. Priority of security interests in goods covered by certificate of title


Published: 2015

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§9-1337. 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: [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]








(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


[
1999, c. 699, Pt. A, §2 (NEW);
1999, c. 699, Pt. A, §4 (AFF)
.]








(2). 
 
The security interest is subordinate to a conflicting security interest in the goods
that attaches, and is perfected under section 9-1311, subsection (2), after issuance
of the certificate and without the conflicting secured party's knowledge of the security
interest.


[
1999, c. 699, Pt. A, §2 (NEW);
1999, c. 699, Pt. A, §4 (AFF)
.]





SECTION HISTORY

1999, c. 699, §A2 (NEW).
1999, c. 699, §A4 (AFF).