Sec. 9333.
(1) As used in this section, "possessory lien" means an interest, other than a security interest or an agricultural lien, that meets all of the following:
(a) It secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business.
(b) It is created by statute or rule of law in favor of the person.
(c) Its effectiveness depends on the person's possession of the goods.
(2) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.
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.