28-9-317. INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN. (a) A security interest or agricultural lien is subordinate to the rights of:
(1) A person entitled to priority under section 28-9-322, Idaho Code; and
(2) Except as otherwise provided in subsection (e) of this section, a person that becomes a lien creditor before the earlier of the time:
(A) the security interest or agricultural lien is perfected; or
(B) one (1) of the conditions specified in section 28-9-203(b)(3), Idaho Code, is met and a financing statement covering the collateral is filed.
(b) Except as otherwise provided in subsection (e) of this section, a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
(c) Except as otherwise provided in subsection (e) of this section, a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
(d) A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.
(e) Except as otherwise provided in sections 28-9-320 and 28-9-321, Idaho Code, if a person files a financing statement with respect to a purchase-money security interest before or within twenty (20) days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.
History:
[28-9-317, added 2001, ch. 208, sec. 2, p. 738; am. 2004, ch. 42, sec. 30, p. 132; am. 2012, ch. 145, sec. 6, p. 394.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Part 3 - PERFECTION AND PRIORITY
Section 28-9-301 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS.
Section 28-9-302 - LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS.
Section 28-9-304 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS.
Section 28-9-307 - LOCATION OF DEBTOR.
Section 28-9-309 - SECURITY INTEREST PERFECTED UPON ATTACHMENT.
Section 28-9-314 - PERFECTION BY CONTROL.
Section 28-9-315 - SECURED PARTY’S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS.
Section 28-9-316 - EFFECT OF CHANGE IN GOVERNING LAW.
Section 28-9-319 - RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS AND PURCHASERS.
Section 28-9-320 - BUYER OF GOODS.
Section 28-9-322A - SECURITY INTERESTS IN CROPS FOR PROVISION OF AGRICULTURAL CHEMICALS.
Section 28-9-323 - FUTURE ADVANCES.
Section 28-9-324 - PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS.
Section 28-9-325 - PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL.
Section 28-9-326 - PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR.
Section 28-9-327 - PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT.
Section 28-9-328 - PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
Section 28-9-329 - PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHT.
Section 28-9-330 - PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT.
Section 28-9-332 - TRANSFER OF MONEY — TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT.
Section 28-9-333 - PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW.
Section 28-9-334 - PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS.
Section 28-9-335 - ACCESSIONS.
Section 28-9-336 - COMMINGLED GOODS.
Section 28-9-337 - PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE OF TITLE.
Section 28-9-339 - PRIORITY SUBJECT TO SUBORDINATION.
Section 28-9-340 - EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT ACCOUNT.
Section 28-9-341 - BANK’S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT.
Section 28-9-342 - BANK’S RIGHT TO REFUSE TO ENTER INTO OR DISCLOSE EXISTENCE OF CONTROL AGREEMENT.