Cal. Com. Code § 9326

Current through the 2024 Legislative Session.
Section 9326 - Priority of security interests created by new debtor
(a) Subject to subdivision (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of paragraph (1) of subdivision (i) of Section 9316 or Section 9508 is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.
(b) The other provisions of this chapter determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subdivision (a). However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.

Ca. Com. Code § 9326

Amended by Stats 2013 ch 531 (AB 502),s 13, eff. 1/1/2014, op. 7/1/2014.
EFFECTIVE 7/01/2001. Added October 10, 1999 (Bill Number: SB 45) (Chapter 991).