IC 26-1-9.1-333 — Priority of certain liens arising by operation of law
Chapter 9.1. Secured Transactions
Section text
Sec. 333. (a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) that secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (2) that is created by statute or rule of law in favor of the person; and (3) whose effectiveness depends on the person's possession of the goods. (b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.
As added by P.L.57-2000, SEC.45.
Source: official publisher (2026 edition)