Maine Revised Statutes Title 11 Sec. 9-1317 – Interests that take priority over or take free of security interest or agricultural lien
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(1). A security interest or agricultural lien is subordinate to the rights of:
(a). A person entitled to priority under section 9?1322; and [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). Except as otherwise provided in subsection (5), a person that becomes a lien creditor before the earlier of the time:
(i) The security interest or agricultural lien is perfected; or
(ii) One of the conditions specified in section 9?1203, subsection (2), paragraph (c) is met and a financing statement covering the collateral is filed. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
Terms Used In Maine Revised Statutes Title 11 Sec. 9-1317
- Agricultural lien: means an interest, other than a security interest, in farm products:
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods or a lease of specific goods and license of software used in the goods. See Maine Revised Statutes Title 11 Sec. 9-1102 Collateral: includes :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Debtor: means :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Maine Revised Statutes Title 11 Sec. 9-1102 General intangible: includes payment intangibles and software. See Maine Revised Statutes Title 11 Sec. 9-1102 Goods: includes :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Lien: A claim against real or personal property in satisfaction of a debt. Lien creditor: means :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Secured party: means :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Tangible chattel paper: means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium. See Maine Revised Statutes Title 11 Sec. 9-1102
(2). Except as otherwise provided in subsection (5), a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
[PL 2013, c. 317, Pt. A, §15 (AMD).]
(3). Except as otherwise provided in subsection (5), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(4). A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.
[PL 2013, c. 317, Pt. A, §16 (AMD).]
(5). Except as otherwise provided in sections 9?1320 and 9?1321, if a person files a financing statement with respect to a purchase-money security interest before or within 20 days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee or lien creditor that arise between the time the security interest attaches and the time of filing, unless the collateral is covered by Title 29?A, chapter 7, in which case the security interest takes priority if perfected in accordance with section 9?1303 within 30 days after the debtor receives delivery of the collateral.
[PL 2003, c. 652, Pt. A, §1 (AMD); PL 2003, c. 652, Pt. A, §7 (AFF).]
SECTION HISTORY
PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF). PL 2003, c. 652, §A1 (AMD). PL 2003, c. 652, §A7 (AFF). PL 2009, c. 324, Pt. B, §§41, 42 (AMD). PL 2009, c. 324, Pt. B, §48 (AFF). PL 2013, c. 317, Pt. A, §§15, 16 (AMD).