(b)__In all other cases, section 9-1322, subsection (1) applies to the qualifying security interests.

Official Comment

1. Source. Former Section 9-312(3), (4).

2. Priority of Purchase-money Security Interests. This section contains the priority rules applicable to purchase-money security interests, as defined in Section 9-103 [Maine cite section 9-1103]. It affords a special, non-temporal priority to those purchase-money security interests that satisfy the statutory conditions. In most cases, priority will be over a security interest asserted under an afteracquired property clause. See Section 9-204 [Maine cite section 9-1204] on the extent to which security interests in afteracquired property are validated.

A purchase-money security interest can be created only in goods and software. See Section 9-103 [Maine cite section 9- 1103]. Section 9-324(a) [Maine cite section 9-1324, subsection (1)], which follows former Section 9-312(4), contains the general rule for purchase-money security interests in goods. It is subject to subsections (b) and (c) [Maine cite subsections (2) and (3)], which derive from former Section 9-312(3) and apply to purchase-money security interests in inventory, and subsections (d) and (e) [Maine cite subsections (4) and (5)], which apply to purchase-money security interests in livestock that are farm products. Subsection (f) [Maine cite subsection (6)] applies to purchase-money security interests in software. Subsection (g) [Maine cite subsection (7)] deals with the relatively unusual case in which a debtor creates two purchase-money security interests in the same collateral and both security interests qualify for special priority under one of the other subsections.

Former Section 9-312(2) contained a rule affording special priority to those who provided secured credit that enabled a debtor to produce crops. This rule proved unworkable and has been eliminated from this Article. Instead, model Section 9-324A [Maine cite section 9-1324-A] contains a revised production-money priority rule. That section is a model, not uniform, provision. The sponsors of the UCC have taken no position as to whether it should be enacted, instead leaving the matter for state legislatures to consider if they are so inclined.

3. Purchase-money Priority in Goods Other Than Inventory and Livestock. Subsection (a) [Maine cite subsection (1)] states