13 Pa. C.S. § 9331

Current through Pa Acts 2024-53, 2024-56 through 2024-79
Section 9331 - Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments and securities under other divisions; priority of interests in financial assets and security entitlements and protection against assertion of claim under divisions 8 and 12
(a)Rights under Divisions 3, 7 , 8 and 12 not limited.--This division does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated , a protected purchaser of a security or a qualifying purchaser of a controllable account, controllable electronic record or controllable payment intangible. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Divisions 3 (relating to negotiable instruments), 7 (relating to warehouse receipts, bills of lading and other documents of title) , 8 (relating to investment securities) and 12 (relating to controllable electronic records).
(b)Protection under Divisions 8 and 12.--This division does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Division 8 or 12.
(c) Filing not notice.--Filing under this division does not constitute notice of a claim or defense to the holders, purchasers or persons described in subsections (a) and (b).

13 Pa.C.S. § 9331

Amended by P.L. (number not assigned at time of publication) 2024 No. 41,§ 31, eff. 8/30/2024.
2001, June 8, P.L. 123, No. 18, § 16, effective 7/1/2001.