Priorities

Front 1

Priorities

Back 1

1) whether the interest was perfected
2) WHEN was it perfected
3) whether it was a PMSI

Front 2

Unperfected vs. unperfected

Back 2

1) First to attach

Front 3

Perfected vs. Unperfected

Back 3

Perfected security interest has priority over any unperfected security interest

Front 4

Perfected vs. Perfected

Back 4

First to file or perfect has priority unless the second one has super priority

Front 5

Perfected vs. PMSI

Back 5

1) A SP with a PMSI in NON-INVENTORY will have priority over earlier filed interests if she perfects before or within 20 days after the debtor receives possession of the collateral OR

Front 6

Perfected vs. PMSI 2)

Back 6

If the collateral is INVENTORY to the debtor, then before the debtor receives possession, the PM SP must both 1) give written, signed notice to secured parties of record describing the collateral and 2) file