Sec. 9319.
(1) Except as otherwise provided in subsection (2), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer.
(2) For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignee's possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor.
History: Add. 2000, Act 348, Eff. July 1, 2001
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 9 - Secured Transactions (440.9101...440.9994)
174-1962-9-3 - Part 3 Perfection and Priority (440.9301...440.9342)
174-1962-9-3-3. - Subpart 3. Priority (440.9317...440.9339)
Section 440.9319 - Rights and Title of Consignee With Respect to Creditors and Purchasers.
Section 440.9320 - Buyer of Goods.
Section 440.9323 - Future Advances.
Section 440.9324 - Priority of Purchase-Money Security Interests.
Section 440.9325 - Priority of Security Interests in Transferred Collateral.
Section 440.9326 - Priority of Security Interests Created by New Debtor.
Section 440.9327 - Priority of Security Interests in Deposit Account.
Section 440.9328 - Priority of Security Interests in Investment Property.
Section 440.9329 - Priority of Security Interests in Letter-of-Credit Right.
Section 440.9330 - Priority of Purchaser of Chattel Paper or Instrument.
Section 440.9332 - Transfer of Money; Transfer of Funds From Deposit Account.
Section 440.9333 - Priority of Certain Liens Arising by Operation of Law.
Section 440.9334 - Priority of Security Interests in Fixtures and Crops.
Section 440.9335 - Accessions.
Section 440.9336 - Commingled Goods.
Section 440.9337 - Priority of Security Interests in Goods Covered by Certificate of Title.