ORS § 79.0325

Current through 2024 Regular Session legislation effective April 17, 2024
Section 79.0325 - UCC 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 ORS 79.0322(1) or 79.0323; or
(b) Arose solely under ORS 72.7110(3) or 72A.5080(5).

ORS 79.0325

2001 c.445 §45