North Dakota § 41-09-45 - (9-325) Priority of security interests in transferred collateral
Full text of North Dakota North Dakota Century Code § 41-09-45 — (9-325) Priority of security interests in transferred collateral, with citation guidance and answers to common questions.
§ 41-09-45. (9-325) Priority of security interests in transferred collateral
1. Except as otherwise provided in subsection 2, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: a. The debtor acquired the collateral subject to the security interest created by the other person; b. The security interest created by the other person was perfected when the debtor acquired the collateral; and c. There is no period thereafter when the security interest is unperfected. 2. Subsection 1 subordinates a security interest only if the security interest: a. Otherwise would have priority solely under subsection 1 of section 41-09-42 or section 41-09-44; or b. Arose solely under subsection 3 of section 41-02-90 or subsection 5 of section 41-02.1-56.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-09-45
What does North Dakota Century Code § 41-09-45 cover?
Section 41-09-45 ("(9-325) Priority of security interests in transferred collateral") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 41-09-45?
A common citation format is "North Dakota Century Code § 41-09-45" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-09-45 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.