| indicating the collateral covered by a financing statement, | resolve that question. |
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| | 6. Matters Left to Other Provisions of This Article: | Priority. With one exception, concerning goods covered by a | certificate of title (see subsection (d) [Maine cite subsection | (4)]), the other provisions of this Part, including the rules | governing purchase-money security interests, determine the | priority of most security interests in an accession, including | the relative priority of a security interest in an accession and | a security interest in the whole. See subsection (c) [Maine cite | subsection (3)]. |
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| | Example 3: Debtor owns an office computer subject to a | security interest in favor of SP-1. Debtor acquires memory and | grants a perfected security interest in the memory to SP-2. | Debtor installs the memory in the computer, at which time (one | assumes) SP-1's security interest attaches to the memory. The | first-to-file-or-perfect rule of Section 9-322 [Maine cite | section 9-1322] governs priority in the memory. If, however, SP- | 2's security interest is a purchase-money security interest, | Section 9-324(a) [Maine cite section 9-1324, subsection (1)] | would afford priority in the memory to SP-2, regardless of which | security interest was perfected first. |
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| | 7. Goods Covered by Certificate of Title. This section does | govern the priority of a security interest in an accession that | is or becomes part of a whole that is subject to a security | interest perfected by compliance with a certificate-of-title | statute. Subsection (d) [Maine cite subsection (4)] provides | that a security interest in the whole, perfected by compliance | with a certificate-of-title statute, takes priority over a | security interest in the accession. It enables a secured party | to rely upon a certificate of title without having to check the | UCC files to determine whether any components of the collateral | may be encumbered. The subsection imposes a corresponding risk | upon those who finance goods that may become part of goods | covered by a certificate of title. In doing so, it reverses the | priority that appeared reasonable to most pre-UCC courts. |
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| | Example 4: Debtor owns an automobile subject to a security | interest in favor of SP-1. The security interest is perfected by | notation on the certificate of title. Debtor buys tires subject | to a perfected-by-filing purchase-money security interest in | favor of SP-2 and mounts the tires on the automobile's wheels. | If the security interest in the automobile attaches to the tires, | then SP-1 acquires priority over SP-2. The same result would | obtain if SP-1's security interest attached to the automobile and | was perfected after the tires had been mounted on the wheels. |
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