IC 26-1-9.1-325 — Priority of security interests in transferred collateral
Chapter 9.1. Secured Transactions
Section text
Sec. 325. (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 IC 26-1-9.1-322(a) or IC 26-1-9.1-324; or (2) arose solely under IC 26-1-2-711(3) or IC 26-1-2.1-508(5).
As added by P.L.57-2000, SEC.45.
Source: official publisher (2026 edition)