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:
2. (1) The debtor acquired the collateral subject to the security interest created by the other person;
3. (2) The security interest created by the other person was perfected when the debtor acquired the collateral; and
4. (3) There is no period thereafter when the security interest is unperfected.
5. (b) Subsection (a) subordinates a security interest only if the security interest:
6. (1) Otherwise would have priority solely under § 57A-9-322(a) or 57A-9-324; or
7. (2) Arose solely under § 57A-2-711(3) or 57A-2A-508(5).

Source: SL 2000, ch 231 .