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Title XXVI TRADE AND COMMERCE

Chapter 400

previous next Effective - 01 Jul 2001, see footnotebottom

  400.2A-307.  Priority of liens arising by attachment or levy on — security interest in — and other claims to goods. — (1)  Except as otherwise provided in section 400.2A-306, a creditor of a lessee takes subject to the lease contract.

  (2)  Except as otherwise provided in subsection (3)  and in sections 400.2A-306 and 400.2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.

  (3)  Except as otherwise provided in sections 400.9-317, 400.9-321 and 400.9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.

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(L. 1992 S.B. 448, A.L. 2001 S.B. 288)

Effective 7-01-01


---- end of effective   01 Jul 2001 ----

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