Mont. Code Ann. § 30-9A-331
Priority of rights of purchasers of instruments, documents, and securities under other chapters -- priority of interests in financial assets and security entitlements under chapter 8
En. Sec. 50, Ch. 305, L. 1999; amd. Sec. 10, Ch. 179, L. 2001; Sec. 30-9-351, MCA 1999; redes. 30-9A-331 by Code Commissioner, 2001.
- (1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to whom a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in chapters 3, 7, and 8.
- (2) This chapter does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under chapter 8.
- (3) Filing under this chapter does not constitute notice of a claim or defense to the holders, purchasers, or persons mentioned in subsections (1) and (2).
History: En. Sec. 50, Ch. 305, L. 1999; amd. Sec. 10, Ch. 179, L. 2001; Sec. 30-9-351, MCA 1999; redes. 30-9A-331 by Code Commissioner, 2001.