Section 6.9 Perfected Interests in the Same Collateral Generally

• Library: Creditors' Remedies (2009 Ed. + 2014 Supp)

c. (§6.9) Perfected Interests in the Same Collateral Generally

Section 400.9-322(a)(1), RSMo Supp. 2008, codifies the "first in time" principle to give priority to the first security interest either perfected or for which a financing statement is filed. A financing statement can be filed before perfection if the debtor has not obtained an interest in the collateral, such as when the financing statement is filed before the loan to be secured is funded or the security interest covers property the debtor has...