Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4
Section 84-9-325 - Priority of security interests in transferred collateral(a)Subordination of security interest in transferred collateral. 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)Limitation of subsection (a) subordination. Subsection (a) subordinates a security interest only if the security interest:(1) Otherwise would have priority solely under K.S.A. 2023 Supp. 84-9-322(a) or 84-9-324, and amendments thereto; or(2) arose solely under K.S.A. 84-2-711(3) or 84-2a-508(5), and amendments thereto. L. 2000, ch. 142, § 45; 7/1/2001.