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The Vermont Statutes Online
Title
09A
:
Uniform Commercial Code
Chapter
009
:
Secured Transactions
§
9-331. Priority of rights of purchasers of instruments, documents, and
securities under other articles; priority of
interests in financial assets and security entitlements under article 8
(a) This article
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
Articles 3, 7, and 8.
(b) This article
does not limit the rights of or impose liability on a person to the extent that
the person is protected against the assertion of an adverse claim under Article
8.
(c) Filing under
this article does not constitute notice of a claim or defense to the holders,
or purchasers, or persons described in subsections (a) and (b). (Added 1999,
No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)