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.
A. Except as otherwise provided in subsection E of this section, a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer's seller, even if the security interest is perfected and the buyer knows of its existence.
B. Except as otherwise provided in subsection E of this section, a buyer of goods from a person who used or bought the goods for use primarily for personal, family or household purposes takes free of a security interest, even if perfected, if the buyer buys:
1. Without knowledge of the security interest;
2. For value;
3. Primarily for the buyer's personal, family or household purposes; and
4. Before the filing of a financing statement covering the goods.
C. To the extent that it affects the priority of a security interest over a buyer of goods under subsection B of this section, the period of effectiveness of a filing made in the jurisdiction in which the seller is located is governed by section 47-9316, subsections A and B.
D. A buyer in ordinary course of business buying oil, gas or other minerals at the wellhead or minehead or after extraction takes free of an interest arising out of an encumbrance.
E. Subsections A and B of this section do not affect a security interest in goods in the possession of the secured party under section 47-9313.