30-9A-331. Priority of rights of purchasers of instruments, documents, and securities under other chapters -- priority of interests in financial assets and security entitlements under chapter 8. (1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to whom 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 chapters 3, 7, and 8.
(2) This chapter 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 chapter 8.
(3) Filing under this chapter does not constitute notice of a claim or defense to the holders, purchasers, or persons mentioned in subsections (1) and (2).
History: En. Sec. 50, Ch. 305, L. 1999; amd. Sec. 10, Ch. 179, L. 2001; Sec. 30-9-351, MCA 1999; redes. 30-9A-331 by Code Commissioner, 2001.
Structure Montana Code Annotated
Chapter 9A. Uniform Commercial Code Secured Transactions
Part 3. Perfection and Priority
30-9A-301. Law governing perfection and priority of security interests
30-9A-302. Law governing perfection and priority of agricultural liens
30-9A-304. Law governing perfection and priority of security interests in deposit accounts
30-9A-305. Law governing perfection and priority of security interests in investment property
30-9A-306. Law governing perfection and priority of security interests in letter-of-credit rights
30-9A-308. When security interest or agricultural lien is perfected -- continuity of perfection
30-9A-309. Security interest perfected on attachment
30-9A-313. When possession by or delivery to secured party perfects security interest without filing
30-9A-314. Perfection by control
30-9A-315. Secured party's rights on disposition of collateral and in proceeds
30-9A-316. Effect of change in applicable law
30-9A-317. Interests that take priority over or take free of security interest or agricultural lien
30-9A-319. Rights and title of consignee with respect to creditors and purchasers
30-9A-321. Licensee of general intangible and lessee of goods in ordinary course of business
30-9A-322. Priorities among conflicting security interests and agricultural liens in same collateral
30-9A-324. Priority of purchase-money security interests
30-9A-325. Priority of security interests in transferred collateral
30-9A-326. Priority of security interests created by new debtor
30-9A-327. Priority of security interests in deposit account
30-9A-328. Priority of security interests in investment property
30-9A-329. Priority of security interests in letter-of-credit right
30-9A-330. Purchase of chattel paper or instrument
30-9A-332. Transfer of money -- transfer of funds from deposit account
30-9A-333. Priority of certain liens arising by operation of law
30-9A-334. Priority of security interests in fixtures and crops
30-9A-337. Priority of security interests in goods covered by certificate of title
30-9A-339. Priority subject to subordination
30-9A-340. Effectiveness of right of recoupment or setoff against deposit account
30-9A-341. Bank's rights and duties with respect to deposit account
30-9A-342. Bank's right to refuse to enter into or disclose existence of control agreement