626.46 Various security agreements — priority.
123 words·~1 min read·
/ia/chapter-626-execution/626-46A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If there are two or more security agreements, the creditor may admit the validity of one or more, and make the required deposit as to such, and contest the other, and where there are two or more such security agreements, each of which is questioned, a failure to establish the invalidity of all shall not defeat the rights of the levying creditor, but in such case the decree shall determine the priority of liens, and direct the order of payment out of the proceeds of the property which shall be sold under special execution to be awarded in said cause.
[C97, §3988; S13, §3988; C24, 27, 31, 35, 39, §11694; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §626.46]