LegalFix
Sign In

§ 9-333 Priority of certain liens arising by operation of law

9 V.S.A. § 9-333 (N/A)
Copy with citation
Copy as parenthetical citation

§ 9-333. Priority of certain liens arising by operation of law

(a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

(1) 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;

(2) which is created by statute or rule of law in favor of the person; and

(3) whose effectiveness depends on the person's possession of the goods.

(b) 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)

Previous Section
§ 9-332 Transfer of money; transfer of funds from deposit account
Next Section
§ 9-334 Priority of security interests in fixtures and crops