Section 45.29.326. Priority of security interests created by new debtor.

   (a) Subject to (b) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and that is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of AS 45.29.316(i)(1) or 45.29.508 is subordinate to a security interest in the same collateral that is perfected other than by a financing statement described in this subsection.
   (b) The other provisions of AS 45.29.301 - 45.29.342 determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in (a) of this section. However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.

Notes

History

(Sec. 1 ch 113 SLA 2000; am Sec. 14 ch 64 SLA 2013)