1. (a) Except as otherwise provided in Subsection (c), for purposes of determining the priority of a perfected security interest under Section 9.322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:

   1. (1) is made while the security interest is perfected only:

      1. (A) under Section 9.309 when it attaches; or
      2. (B) temporarily under Section 9.312(e), (f), or (g); and
   2. (2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under Section 9.309 or 9.312(e), (f), or (g).

2. (b) Except as otherwise provided in Subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than 45 days after the person becomes a lien creditor unless the advance is made:

   1. (1) without knowledge of the lien; or
   2. (2) pursuant to a commitment entered into without knowledge of the lien.
3. (c) Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.

4. (d) Except as otherwise provided in Subsection (e), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:

   1. (1) the time the secured party acquires knowledge of the buyer's purchase; or
   2. (2) 45 days after the purchase.
5. (e) Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the 45-day period.

6. (f) Except as otherwise provided in Subsection (g), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:

   1. (1) the time the secured party acquires knowledge of the lease; or
   2. (2) 45 days after the lease contract becomes enforceable.
7. (g) Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.

Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.

Amended by Acts 2001, 77th Leg., ch. 705, Sec. 7, eff. June 13, 2001.