§ 6A-9-326 - Priority of security interests created by new debtor. - Rhode Island Statutes

SECTION 6A-9-326

   § 6A-9-326  Priority of security interestscreated by new debtor. – (a) Subordination of security interest created by new debtor. Subject tosubsection (b), a security interest created by a new debtor which is perfectedby a filed financing statement that is effective solely under § 6A-9-508in collateral in which a new debtor has or acquires rights is subordinate to asecurity interest in the same collateral which is perfected other than by afiled financing statement that is effective solely under § 6A-9-508.

   (b) Priority under other provisions; multiple originaldebtors. The other provisions of this part determine the priority amongconflicting security interests in the same collateral perfected by filedfinancing statements that are effective solely under § 6A-9-508. However,if the security agreements to which a new debtor became bound as debtor werenot entered into by the same original debtor, the conflicting securityinterests rank according to priority in time of the new debtor's having becomebound.