355.9-331 Priority of rights of purchasers of instruments, documents, and securities under other articles -- Priority of interests in financial assets and security entitlements under Article 8. (1) This article 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, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Articles 3, 7, and 8 of this chapter. (2) This article 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 Article 8 of this chapter. (3) Filing under this article does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (1) and (2) of this section. Effective: July 1, 2001 History: Created 2000 Ky. Acts ch. 408, sec. 71, effective July 1, 2001.
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