Connecticut General Statutes 42a-9-325 – Priority of security interests in transferred collateral
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(a) 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:
Terms Used In Connecticut General Statutes 42a-9-325
- another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
(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) Subsection (a) subordinates a security interest only if the security interest:
(1) Otherwise would have priority solely under subsection (a) of § 42a-9-322 or § 42a-9-324; or
(2) Arose solely under subdivision (3) of § 42a-2-711 or subsection (d) of § 42a-2A-724.