Section 75-9-323 - Future advances(a) Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under Section 75-9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that: (1) Is made while the security interest is perfected only:(A) Under Section 75-9-309 when it attaches; or(B) Temporarily under Section 75-9-312(e), (f), or (g); and(2) Is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under Section 75-9-309 or 75-9-312(e), (f), or (g).(b) Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than forty-five (45) days after the person becomes a lien creditor unless the advance is made: (1) Without knowledge of the lien; or(2) Pursuant to a commitment entered into without knowledge of the lien.(c) Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.(d) Except as otherwise provided in subsection (e), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of: (1) The time the secured party acquires knowledge of the buyer's purchase; or(2) Forty-five (45) days after the purchase.(e) Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the forty-five-day period.(f) Except as otherwise provided in subsection (g), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of: (1) The time the secured party acquires knowledge of the lease; or(2) Forty-five (45) days after the lease contract becomes enforceable.(g) Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five-day period.Derived from former 1972 Code §§ 75-9-301 [Codes, 1942, § 41A:9-301; Laws, 1966, ch. 316, § 9-301; Laws, 1977, ch. 452, § 14; Laws, 1986, ch. 343, § 1; Laws, 1996, ch. 468, § 62, eff. 7/1/1996], 75-9-307 [Codes, 1942, § 41A:9-307; Laws, 1966, ch. 316, § 9-307; Laws, 1977, ch. 452, § 19; Laws, 1986, ch. 482, § 1, eff. 12/24/1986 (the date Section 1324 of the Food Security Act of 1985 became effective)], and 75-9-312 [Codes, 1942, § 41A:9-312; Laws, 1966, ch. 316, § 9-312; Laws, 1977, ch. 452, § 21; Laws, 1986, ch. 343, § 2; Laws, 1990, ch. 384, § 54; Laws, 1996, ch. 468, § 69, eff. 7/1/1996] and enacted by Laws, 2001, ch. 495, § 1, eff. 1/1/2002.