Vermont § 338 - § 9—338.

§ 338. § 9—338.

• Priority of security interest or agricultural lien perfected by filed financing statement
  providing certain incorrect information If a security interest or agricultural lien is perfected by a filed financing statement
  providing information described in subdivision 9-516(b)(5) of this title which is incorrect at the time the financing statement is filed: (1) the security interest or agricultural lien is subordinate to a conflicting perfected
  security interest in the collateral to the extent that the holder of the conflicting
  security interest gives value in reasonable reliance upon the incorrect information;
  and (2) a purchaser, other than a secured party, of the collateral takes free of the security
  interest or agricultural lien to the extent that, in reasonable reliance upon the
  incorrect information, the purchaser gives value and, in the case of tangible chattel
  paper, tangible documents, goods, instruments, or a security certificate, receives
  delivery of the collateral. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2015, No. 51, § B.9, eff. June 3, 2015.)