The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
47-9326 - Priority of security interests created by new debtor
47-9326. Priority of security interests created by new debtor
A. Subject to subsection B of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of section 47-9316, subsection I, paragraph 1 or section 47-9508 is subordinate to a security interest in the same collateral that is perfected other than by such a filed financing statement.
B. The other provisions of this article determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection A of this section. However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.