Section 336.9-333 Priority of Certain Liens Arising by Operation of Law - Minnesota Statutes

336.9-333 PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW.

(a) Possessory lien. In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

(1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

(2) which is created by statute or rule of law in favor of the person; and

(3) whose effectiveness depends on the person's possession of the goods.

(b) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

History:

2000 c 399 art 1 s 53