1. (a) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:

   1. (1) The debtor acquired the collateral subject to the security interest created by the other person;
   2. (2) The security interest created by the other person was perfected when the debtor acquired the collateral; and
   3. (3) There is no period thereafter when the security interest is unperfected.

2. (b) Subsection (a) subordinates a security interest only if the security interest:

   1. (1) Otherwise would have priority solely under § 9-322(a) or § 9-324; or
   2. (2) Arose solely under § 2-711(3) or § 2A-508(5) of this article.

Added by Acts 1999, c. 282, § 2, eff. July 1, 2001.