§9-331. Priority of rights of purchasers of instruments, documents, and securities under

Link to law: http://legislature.vermont.gov/statutes/section/09A/009/00331
Published: 2015

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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.)
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