Idaho State Statutes - Idaho Attorney Directory

INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY
INTEREST OR AGRICULTURAL LIEN. (a) A security interest or agricultural lien is
subordinate to the rights of:
(1) A person entitled to priority under section 28-9-322; and
(2) Except as otherwise provided in subsection (e) of this section, a
person that becomes a lien creditor before the earlier of the time:
(A) the security interest or agricultural lien is perfected; or
(B) one (1) of the conditions specified in section 28-9-203(b)(3) is
met and a financing statement covering the collateral is filed.
(b) Except as otherwise provided in subsection (e) of this section, a
buyer, other than a secured party, of tangible chattel paper, tangible
documents, goods, instruments or a security certificate takes free of a
security interest or agricultural lien if the buyer gives value and receives
delivery of the collateral without knowledge of the security interest or
agricultural lien and before it is perfected.
(c) Except as otherwise provided in subsection (e) of this section, a
lessee of goods takes free of a security interest or agricultural lien if the
lessee gives value and receives delivery of the collateral without knowledge
of the security interest or agricultural lien and before it is perfected.
(d) A licensee of a general intangible or a buyer, other than a secured
party, of accounts, electronic chattel paper, electronic documents, general
intangibles, or investment property other than a certificated security takes
free of a security interest if the licensee or buyer gives value without
knowledge of the security interest and before it is perfected.
(e) Except as otherwise provided in sections 28-9-320 and 28-9-321, if a
person files a financing statement with respect to a purchase-money security
interest before or within twenty (20) days after the debtor receives delivery
of the collateral, the security interest takes priority over the rights of a
buyer, lessee, or lien creditor which arise between the time the security
interest attaches and the time of filing.

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