North Dakota Code 41-09-53 – (9-333) Priority of certain liens arising by operation of law
Current as of: 2023 | Check for updates
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1. In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien:
Terms Used In North Dakota Code 41-09-53
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Rule: includes regulation. See North Dakota Code 1-01-49
- Statute: A law passed by a legislature.
a. Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person’s business; b. Which is created by statute or rule of law in favor of the person; and
c. Whose effectiveness depends on the person’s possession of the goods.
2. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.