Vermont § 330 - § 9—330.

§ 330. § 9—330.

• Priority of purchaser of chattel paper or instrument (a) A purchaser of chattel paper has priority over a security interest in the chattel
  paper which is claimed merely as proceeds of inventory subject to a security interest
  if: (1) in good faith and in the ordinary course of the purchaser’s business, the purchaser
  gives new value, takes possession of each authoritative tangible copy of the record
  evidencing the chattel paper, and obtains control under section 9—105 of this title of each authoritative electronic copy of the record evidencing the chattel paper;
  and (2) the authoritative copies of the record evidencing the chattel paper do not indicate
  that the chattel paper has been assigned to an identified assignee other than the
  purchaser. (b) A purchaser of chattel paper has priority over a security interest in the chattel
  paper which is claimed other than merely as proceeds of inventory subject to a security
  interest if the purchaser gives new value, takes possession of each authoritative
  tangible copy of the record evidencing the chattel paper, and obtains control under
  section 9—105 of this title of each authoritative electronic copy of the record evidencing the chattel paper
  in good faith, in the ordinary course of the purchaser’s business, and without knowledge
  that the purchase violates the rights of the secured party. (c) Except as otherwise provided in section 9—327 of this title, a purchaser having priority in chattel paper under subsection (a) or (b) of this
  section also has priority in proceeds of the chattel paper to the extent that: (1) section 9—322 of this title provides for priority in the proceeds; or (2) the proceeds consist of the specific goods covered by the chattel paper or cash proceeds
  of the specific goods, even if the purchaser’s security interest in the proceeds is
  unperfected. (d) Except as otherwise provided in subsection 9—331(a) of this title, a purchaser of an instrument has priority over a security interest in the instrument
  perfected by a method other than possession if the purchaser gives value and takes
  possession of the instrument in good faith and without knowledge that the purchase
  violates the rights of the secured party. (e) For purposes of subsections (a) and (b) of this section, the holder of a purchase-money
  security interest in inventory gives new value for chattel paper constituting proceeds
  of the inventory. (f) For purposes of subsections (b) and (d) of this section, if the authoritative copies
  of the record evidencing chattel paper or an instrument indicate that the chattel
  paper or instrument has been assigned to an identified secured party other than the
  purchaser, a purchaser of the chattel paper or instrument has knowledge that the purchase
  violates the rights of the secured party. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2025, No. 17, § 9, eff. July 1, 2025.)