30-9-346. (Effective July 1, 2001) Priority of security interests created by new debtor. (1) Subject to subsection (2), a security interest created by a new debtor that is perfected by a filed financing statement that is effective solely under 30-9-528 in collateral in which a new debtor has or acquires rights is subordinate to a security interest in the same collateral that is perfected by another method.
     (2) If more than one security interest in the same collateral is subordinate under subsection (1), the other provisions of this part, as applicable, determine the priority among the subordinated security interests.

     History: En. Sec. 45, Ch. 305, L. 1999.