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§ 47-9325 Priority of security interests in transferred collateral

AZ Rev Stat § 47-9325 (2019) (N/A)
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47-9325. Priority of security interests in transferred collateral

A. Except as otherwise provided in subsection B 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:

1. The debtor acquired the collateral subject to the security interest created by the other person;

2. The security interest created by the other person was perfected when the debtor acquired the collateral; and

3. There is no period thereafter when the security interest is unperfected.

B. Subsection A of this section subordinates a security interest only if the security interest:

1. Otherwise would have priority solely under section 47-9322, subsection A or section 47-9324; or

2. Arose solely under section 47-2711, subsection C or section 47-2A508, subsection E.

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