(5)__Except as otherwise provided in sections 9-1320 and 9- 1321, if a person files a financing statement with respect to a purchase-money security interest before or within 20 days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee or lien creditor that arise between the time the security interest attaches and the time of filing.

Official Comment

1. Source. Former Sections 9-301, 2A-307(2).

2. Scope of This Section. As did former Section 9-301, this section lists the classes of persons who take priority over, or take free of, an unperfected security interest. Section 9-308 [Maine cite section 9-1308] explains when a security interest or agricultural lien is "perfected." A security interest that has attached (see Section 9-203 [Maine cite section 9-1203]) but as to which a required perfection step has not been taken is "unperfected." Certain provisions have been moved from former Section 9-301. The definition of "lien creditor" now appears in Section 9-102 [Maine cite section 9-1102], and the rules governing priority in future advances are found in Section 9-323 [Maine cite section 9-1323].

3. Competing Security Interests. Section 9-322 [Maine cite section 9-1322] states general rules for determining priority among conflicting security interests and refers to other sections that state special rules of priority in a variety of situations. The security interests given priority under Section 9-322 [Maine cite section 9-1322] and the other sections to which it refers take priority in general even over a perfected security interest. A fortiori they take priority over an unperfected security interest. Paragraph (a)(1) [Maine cite subsection (1), paragraph (a)] of this section so states.

4. Filed but Unattached Security Interest vs. Lien Creditor. Under former Section 9-301(1)(b), a lien creditor's rights had priority over an unperfected security interest. Perfection required attachment (former Section 9-303) and attachment required the giving of value (former Section 9-203). It followed that, if a secured party had filed a financing statement but had not yet given value, an intervening lien creditor whose lien arose after filing but before attachment of the security interest acquired rights that are senior to those of