Nevada Revised Statutes (Last Updated: December 24, 2014) |
TITLE8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS |
CHAPTER104. Uniform Commercial Code—Original Articles |
ARTICLE9. SECURED TRANSACTIONS |
PART3. Perfection and Priority |
NRS104.9325. Priority of security interests in transferred collateral.
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1. Except as otherwise provided in subsection 2, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
(a) The debtor acquired the collateral subject to the security interest created by the other person;
(b) The security interest created by the other person was perfected when the debtor acquired the collateral; and
(c) There is no period thereafter when the security interest is unperfected.
2. Subsection 1 subordinates a security interest only if the security interest:
(a) Otherwise would have priority solely under subsection 1 of NRS 104.9322 or NRS 104.9324; or
(b) Arose solely under subsection 3 of NRS 104.2711 or subsection 5 of NRS 104A.2508.
(Added to NRS by 1999, 316)