S.C. Code Ann. § 36-9-331
Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Chapter 8
2001 Act No. 67, Section 12. "Due negotiation" Section 36-7-501(4) "Holder" Section 36-1-201(20) "Holder in due course" Section 36-3-302 "Negotiable document" See Sections 36-9-102(a)(30), 36-7-102(1)(e), 36-1-201(15), 36-7-104(1) "Negotiable instrument" Sections 36-9-102(a)(47), 36-3-104 "Notice of a claim or defense" Sections 36-3-304, 36-1-201(25) [see now Section 36-1-202] "Protected purchaser" Section 36-8-303 "Purchaser" Section 36-1-201(33) "Security" Section 36-8-102(a)(15) "Security interest" Section 36-1-201(37) [see now Section 36-1-203]
- (a) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which 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.
- (b) 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.
- (c) Filing under this chapter does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (a) and (b).
HISTORY: 2001 Act No. 67, Section 12. "Due negotiation" Section 36-7-501(4) "Holder" Section 36-1-201(20) "Holder in due course" Section 36-3-302 "Negotiable document" See Sections 36-9-102(a)(30), 36-7-102(1)(e), 36-1-201(15), 36-7-104(1) "Negotiable instrument" Sections 36-9-102(a)(47), 36-3-104 "Notice of a claim or defense" Sections 36-3-304, 36-1-201(25) [see now Section 36-1-202] "Protected purchaser" Section 36-8-303 "Purchaser" Section 36-1-201(33) "Security" Section 36-8-102(a)(15) "Security interest" Section 36-1-201(37) [see now Section 36-1-203]