70A-9a-331 - Priority of rights of purchasers of instruments, documents, and securities under other chapters -- Priority of interests in financial assets and security entitlements under Chapter 8, Uni
70A-9a-331. Priority of rights of purchasers of instruments, documents, andsecurities under other chapters -- Priority of interests in financial assets and securityentitlements under Chapter 8, Uniform Commercial Code -- Investment Securities.
(1) This chapter does not limit the rights of a holder in due course of a negotiableinstrument, a holder to which a negotiable document of title has been duly negotiated, or aprotected purchaser of a security. These holders or purchasers take priority over an earliersecurity interest, even if perfected, to the extent provided in Chapters 3, Uniform CommercialCode - Negotiable Instruments, 7a, Uniform Commercial Code - Documents of Title, and 8,Uniform Commercial Code - Investment Securities.
(2) This chapter does not limit the rights of or impose liability on a person to the extentthat the person is protected against the assertion of a claim under Chapter 8, UniformCommercial Code - Investment Securities.
(3) Filing under this chapter does not constitute notice of a claim or defense to theholders, or purchasers, or persons described in Subsections (1) and (2).
Amended by Chapter 42, 2006 General Session