RS 10:9-325
129 words·~1 min read·
/la/title-10/10-314A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 10:9-325
§9-325. Priority of security interests in transferred collateral
(a)Subordination of security interest in transferred collateral. 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)Limitation of Subsection
(a)subordination. Subsection
(a)subordinates a security interest only if the security interest otherwise would have priority solely under R.S. 10:9-322(a) or 9-324.
Acts 2001, No. 128, §1, eff. July 1, 2001.