Find Bill
Find Your Legislator
Legislative Deadlines
Oct. 15, 2017
RSS Feed Permanent URL -A +A

2016 Statute



Prev Article 9. - SECURED TRANSACTIONSNext


84-9-338.Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in K.S.A. 2016 Supp. 84-9-516(b)(5), and amendments thereto, which is incorrect at the time the financing statement is filed:

(1) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and

(2) a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.

History: L. 2000, ch. 142, § 58; L. 2007, ch. 90, § 76; July 1, 2008.



Prev Article 9. - SECURED TRANSACTIONSNext
2017. Powered by KLISS. Rendered: 2017-10-15T05:37:41. Head Rev No: 273681