1. (1) Except as otherwise provided in IC 26-1-2.1-306 , a creditor of a lessee takes subject to the lease contract.
2. (2) Except as otherwise provided in subsection (3) and in IC 26-1-2.1-306 and IC 26-1-2.1-308 , a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.
3. (3) Except as otherwise provided in IC 26-1-9.1-317 , IC 26-1-9.1-321 , and IC 26-1-9.1-323 , a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.

As added by P.L.189-1991, SEC.3. Amended by P.L.57-2000, SEC.25.