(2)__The other provisions of this Part determine the priority among conflicting security interests in the same collateral perfected by filed financing statements that are effective solely under section 9-1508.__However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.

Official Comment

1. Source. New.

2. Subordination of Security Interests Created by New Debtor. This section addresses the priority contests that may arise when a new debtor becomes bound by the security agreement of an original debtor and each debtor has a secured creditor.

Subsection (a) [Maine cite subsection (1)] subordinates the original debtor's secured party's security interest perfected against the new debtor solely under Section 9-508 [Maine cite section 9-1508]. The security interest is subordinated to security interests in the same collateral perfected by another method, e.g., by filing against the new debtor. As used in this section, "a filed financing statement that is effective solely under Section 9508 [Maine cite section 9-1508]" refers to a financing statement filed against the original debtor that continues to be effective under Section 9-508 [Maine cite section 9-1508]. It does not encompass a new initial financing statement providing the name of the new debtor, even if the initial financing statement is filed to maintain the effectiveness of a financing statement under the circumstances described in Section 9-508(b) [Maine cite section 9-1508, subsection (2)]. Nor does it encompass a financing statement filed against the original debtor which remains effective against collateral transferred by the original debtor to the new debtor. See Section 9-508(c) [Maine cite section 9-1508, subsection (3)]. Concerning priority contests involving transferred collateral, see Sections 9-325 and 9-507 [Maine cite sections 9-1325 and 9-1507].

Example 1: SPX holds a perfected-by-filing security interest in X Corp's existing and after-acquired inventory, and SPZ holds a perfected-by-possession security interest in an item of Z Corp's inventory. Z Corp becomes bound as debtor by X