(1) Except as otherwise provided in subsection (3), for purposes of determining the priority of a perfected security interest under s. 679.322(1)(a), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:
(a) Is made while the security interest is perfected only:
1. Under s. 679.3091 when it attaches; or
2. Temporarily under s. 679.3121(5), (6), or (7); and
(b) Is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under s. 679.3091 or s. 679.3121(5), (6), or (7).
(2) Except as otherwise provided in subsection (3), a security interest is subordinate to the rights of a person who becomes a lien creditor to the extent that the security interest secures an advance made more than 45 days after the person becomes a lien creditor unless the advance is made:
(a) Without knowledge of the lien; or
(b) Pursuant to a commitment entered into without knowledge of the lien.
(3) Subsections (1) and (2) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.
(4) Except as otherwise provided in subsection (5), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:
(a) The time the secured party acquires knowledge of the buyer’s purchase; or
(b) Forty-five days after the purchase.
(5) Subsection (4) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer’s purchase and before the expiration of the 45-day period.
(6) Except as otherwise provided in subsection (7), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:
(a) The time the secured party acquires knowledge of the lease; or
(b) Forty-five days after the lease contract becomes enforceable.
(7) Subsection (6) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.
History.—s. 3, ch. 2001-198.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 679 - Uniform Commercial Code: Secured Transactions
Part III - Perfection and Priority (Ss. 679.3011-679.342)
679.3011 - Law governing perfection and priority of security interests.
679.3021 - Law governing perfection and priority of agricultural liens.
679.3041 - Law governing perfection and priority of security interests in deposit accounts.
679.3051 - Law governing perfection and priority of security interests in investment property.
679.3061 - Law governing perfection and priority of security interests in letter-of-credit rights.
679.3071 - Location of debtor.
679.3081 - When security interest or agricultural lien is perfected; continuity of perfection.
679.3091 - Security interest perfected upon attachment.
679.3141 - Perfection by control.
679.3151 - Secured party’s rights on disposition of collateral and in proceeds.
679.3161 - Continued perfection of security interest following change in governing law.
679.3171 - Interests that take priority over or take free of security interest or agricultural lien.
679.319 - Rights and title of consignee with respect to creditors and purchasers.
679.321 - Licensee of general intangible and lessee of goods in ordinary course of business.
679.324 - Priority of purchase-money security interests.
679.325 - Priority of security interests in transferred collateral.
679.326 - Priority of security interests created by new debtor.
679.327 - Priority of security interests in deposit account.
679.328 - Priority of security interests in investment property.
679.329 - Priority of security interests in letter-of-credit right.
679.330 - Priority of purchaser of chattel paper or instrument.
679.332 - Transfer of money; transfer of funds from deposit account.
679.333 - Priority of certain liens arising by operation of law.
679.334 - Priority of security interests in fixtures and crops.
679.337 - Priority of security interests in goods covered by certificate of title.
679.339 - Priority subject to subordination.
679.340 - Effectiveness of right of recoupment or set-off against deposit account.
679.341 - Bank’s rights and duties with respect to deposit account.
679.342 - Bank’s right to refuse to enter into or disclose existence of control agreement.