Kentucky Statutes 355.9-325 – Priority of security interests in transferred collateral
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(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: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 65, effective July 1, 2001.
(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: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 65, effective July 1, 2001.