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 Section 9.322(a) or 9.324; or
   2. (2) arose solely under Section 2.711(c) or 2A.508(e).

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