California Commercial Code

§ 9325

COM § 9325 Effective Jan 1, 2001Div. 9 · Ch. 3

Statute text

(a)Except as otherwise provided in subdivision (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if all of the following apply:

(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.

…

Legislative history

Amended (as to be added by Stats. 1999, Ch. 991) by Stats. 2000, Ch. 1003, Sec. 15. Effective January 1, 2001. Addition and amendment operative July 1, 2001, by Stats. 1999, Ch. 991, Sec. 75, and Stats. 2000, Ch. 1003, Sec. 56.