Michigan Compiled Laws
174-1962-9-3-3. - Subpart 3. Priority (440.9317...440.9339)
Section 440.9331 - Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements Under Article 8.

Sec. 9331.
(1) This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in articles 3, 7, and 8.
(2) This article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under article 8.
(3) Filing under this article does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (1) and (2).
History: Add. 2000, Act 348, Eff. July 1, 2001

Structure Michigan Compiled Laws

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 440.9317 - Interests That Take Priority Over or Take Free of Unperfected Security Interest or Agricultural Lien.

Section 440.9318 - No Interest Retained in Right to Payment That Is Sold; Rights and Title of Seller of Account or Chattel Paper With Respect to Creditors and Purchasers.

Section 440.9319 - Rights and Title of Consignee With Respect to Creditors and Purchasers.

Section 440.9320 - Buyer of Goods.

Section 440.9321 - Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business.

Section 440.9322 - Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral.

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 440.9331 - Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements Under Article 8.

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.

Section 440.9338 - Priority of Security Interests or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information.

Section 440.9339 - Priority Subject to Subordination.