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2012 Florida Statutes

Title XXXIX COMMERCIAL RELATIONS
Chapter 679 UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS Entire Chapter
SECTION 325
Priority of security interests in transferred collateral.
F.S. 679.325
679.325 Priority of security interests in transferred collateral.—
(1) Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
(a) The debtor acquired the collateral subject to the security interest created by the other person;
(b) The security interest created by the other person was perfected when the debtor acquired the collateral; and
(c) There is no period thereafter during which the security interest is unperfected.
(2) Subsection (1) subordinates a security interest only if the security interest:
(a) Otherwise would have priority solely under s. 679.322(1) or s. 679.324; or
(b) Arose solely under s. 672.711(3) or s. 680.508(5).
History.—s. 3, ch. 2001-198.