§ 25-9-333. Priority of certain liens arising by operation of law.
133 words·~1 min read·
/nc/chapter-25/25-9-333A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 25-9-333. Priority of certain liens arising by operation of law.
(a)"Possessory lien." - 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)Priority of possessory lien. - 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. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.)