Vermont § 324A - § 9—324A.

§ 324A. § 9—324A.

• Priority of production-money security interests and agricultural liens (a) Except as otherwise provided in subsections (c), (d), and (e) of this section, if
  the requirements of subsection (b) of this section are satisfied, a perfected production-money
  security interest in production-money crops has priority over a conflicting security
  interest in the same crops and, except as otherwise provided in section 9—327 of this title, also has priority in their identifiable proceeds. (b) A production-money security interest has priority under subsection (a) of this section
  if: (1) the production-money security interest is perfected by filing when the production-money
  secured party first gives new value to enable the debtor to produce the crops; (2) the production-money secured party sends an authenticated notification to the holder
  of the conflicting security interest not less than 10 or more than 30 days before
  the production-money secured party first gives new value to enable the debtor to produce
  the crops if the holder had filed a financing statement covering the crops before
  the date of the filing made by the production-money secured party; and (3) the notification states that the production-money secured party has or expects to
  acquire a production-money security interest in the debtor’s crops and provides a
  description of the crops. (c) Except as otherwise provided in subsection (d) or (e) of this section, if more than
  one security interest qualifies for priority in the same collateral under subsection
  (a) of this section, the security interests rank according to priority in time of
  filing under subsection 9—322(a) of this title. (d) To the extent that a person holding a perfected security interest in production-money
  crops that are the subject of a production-money security interest gives new value
  to enable the debtor to produce the production-money crops and the value is in fact
  used for the production of the production-money crops, the security interests rank
  according to priority in time of filing under subsection 9—322(a) of this title. (e) To the extent that a person holds both an agricultural lien and a production-money
  security interest in the same collateral securing the same obligations, the rules
  of priority applicable to agricultural liens govern priority. (Added 2025, No. 17, § 9, eff. July 1, 2025.)