Legislation
SECTION 9-331
Priority of Rights of Purchasers of Instruments, Documents, and Securities under Other Articles; Priority of Interests in Financial Asset...
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 9, PART 3, SUBPART 3
* Section 9--331. 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.
(a) Rights under Articles 3, 7, and 8 not limited. 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.
(b) Protection under Article 8. 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.
(c) Filing not notice. Filing under this article does not constitute
notice of a claim or defense to the holders, or purchasers, or persons
described in subsections (a) and (b).
(d) Section not applicable to cooperative interests. Subsections (a),
(b), and (c) do not apply to cooperative interests.
* NB Effective until June 3, 2026
* Section 9--331. Priority of Rights of Purchasers of Controllable
Accounts, Controllable Electronic Records,
Controllable Payment Intangibles, Documents,
Instruments, and Securities under Other Articles;
Priority of Interests in Financial Assets and Security
Entitlements and Protection Against Assertion of Claim
under Articles 8 and 12.
(a) Rights under Articles 3, 7, 8, and 12 not limited. 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, protected purchaser of a security, or a qualifying
purchaser of a controllable account, controllable electronic record, or
controllable payment intangible. These holders or purchasers take
priority over an earlier security interest, even if perfected, to the
extent provided in Articles 3, 7, 8, and 12.
(b) Protection under Articles 8 and 12. 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 or 12.
(c) Filing not notice. Filing under this article does not constitute
notice of a claim or defense to the holders, or purchasers, or persons
described in subsections (a) and (b).
(d) Section not applicable to cooperative interests. Subsections (a),
(b), and (c) do not apply to cooperative interests.
* NB Effective June 3, 2026
Documents, and Securities under Other Articles;
Priority of Interests in Financial Assets and Security
Entitlements under Article 8.
(a) Rights under Articles 3, 7, and 8 not limited. 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.
(b) Protection under Article 8. 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.
(c) Filing not notice. Filing under this article does not constitute
notice of a claim or defense to the holders, or purchasers, or persons
described in subsections (a) and (b).
(d) Section not applicable to cooperative interests. Subsections (a),
(b), and (c) do not apply to cooperative interests.
* NB Effective until June 3, 2026
* Section 9--331. Priority of Rights of Purchasers of Controllable
Accounts, Controllable Electronic Records,
Controllable Payment Intangibles, Documents,
Instruments, and Securities under Other Articles;
Priority of Interests in Financial Assets and Security
Entitlements and Protection Against Assertion of Claim
under Articles 8 and 12.
(a) Rights under Articles 3, 7, 8, and 12 not limited. 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, protected purchaser of a security, or a qualifying
purchaser of a controllable account, controllable electronic record, or
controllable payment intangible. These holders or purchasers take
priority over an earlier security interest, even if perfected, to the
extent provided in Articles 3, 7, 8, and 12.
(b) Protection under Articles 8 and 12. 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 or 12.
(c) Filing not notice. Filing under this article does not constitute
notice of a claim or defense to the holders, or purchasers, or persons
described in subsections (a) and (b).
(d) Section not applicable to cooperative interests. Subsections (a),
(b), and (c) do not apply to cooperative interests.
* NB Effective June 3, 2026