Section 355.9-325 - Priority of security interests in transferred collateral(1) Except as otherwise provided in subsection (2) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (a) The debtor acquired the collateral subject to the security interest created by the other person;(b) The security interest created by the other person was perfected when the debtor acquired the collateral; and(c) There is no period thereafter when the security interest is unperfected.(2) Subsection (1) of this section subordinates a security interest only if the security interest: (a) Otherwise would have priority solely under KRS 355.9-322(1) or 355.9-324; or(b) Arose solely under KRS 355.2-711(3) or 355.2A-508(5).Effective:7/1/2001
Created 2000, Ky. Acts ch. 408, sec. 65, effective7/1/2001.