9317 - Interests which take priority over or take free of security interest or agricultural lien.
SUBCHAPTER C PRIORITY Sec. 9317. Interests which take priority over or take free of security interest or agricultural lien. 9318. No interest retained in right to payment which is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers. 9319. Rights and title of consignee with respect to creditors and purchasers. 9320. Buyer of goods. 9321. Licensee of general intangible and lessee of goods in ordinary course of business. 9322. Priorities among conflicting security interests in and agricultural liens on same collateral. 9323. Future advances. 9324. Priority of purchase-money security interests. 9325. Priority of security interests in transferred collateral. 9326. Priority of security interests created by new debtor. 9327. Priority of security interests in deposit account. 9328. Priority of security interests in investment property. 9329. Priority of security interests in letter-of-credit right. 9330. Priority of purchaser of chattel paper or instrument. 9331. Priority of rights of purchasers of instruments, documents and securities under other divisions; priority of interests in financial assets and security entitlements under Division 8. 9332. Transfer of money; transfer of funds from deposit account. 9333. Priority of certain liens arising by operation of law. 9334. Priority of security interests in fixtures and crops. 9335. Accessions. 9336. Commingled goods. 9337. Priority of security interests in goods covered by certificate of title. 9338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. 9339. Priority subject to subordination. § 9317. Interests which take priority over or take free of security interest or agricultural lien. (a) Conflicting security interests and rights of lien creditors.--A security interest or agricultural lien is subordinate to the rights of all of the following: (1) A person entitled to priority under section 9322 (relating to priorities among conflicting security interests in and agricultural liens on same collateral). (2) Except as otherwise provided in subsection (e), a person that becomes a lien creditor before the earlier of the time: (i) the security interest or agricultural lien is perfected; or (ii) one of the conditions specified in section 9203(b)(3) (relating to enforceability) is met and a financing statement covering the collateral is filed. (b) Buyers that receive delivery.--Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments or a security certificate takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected. (c) Lessees that receive delivery.--Except as otherwise provided in subsection (e), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected. (d) Licensees and buyers of certain collateral.--A licensee of a general intangible or a buyer, other than a secured party, of accounts, electronic chattel paper, electronic documents, general intangibles or investment property other than a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected. (e) Purchase-money security interest.--Except as otherwise provided in sections 9320 (relating to buyer of goods) and 9321 (relating to licensee of general intangible and lessee of goods in ordinary course of business), if a person files a financing statement with respect to a purchase-money security interest before or within 20 days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee or lien creditor which arise between the time the security interest attaches and the time of filing. (Apr. 16, 2008, P.L.57, No.13, eff. 60 days) 2008 Amendment. Act 13 amended subsecs. (b) and (d). Cross References. Section 9317 is referred to in section 2A307 of this title.