Current through P.L. 171-2024
Section 26-1-9.1-333 - Priority of certain liens arising by operation of law(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.