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§ 9-325. Priority of security interests in transferred collateral

MD Comm L Code § 9-325 (2019) (N/A)
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(a)    Except as otherwise provided in subsection (b), 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) subordinates a security interest only if the security interest:

(1)    Otherwise would have priority solely under § 9-322(a) or § 9-324; or

(2)    Arose solely under § 2-711(3) or § 2A-508(5) of this article.

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