§ 9—331. — Vermont Code § 331

§ 331. § 9—331.

• Priority of rights of purchasers of controllable accounts, controllable electronic
  records, controllable payment intangibles, documents, instruments, and securities
  under other Articles; priority of interests in financial assets and security entitlements
  and protection against assertion of claim under Articles 8 and 12 (a) This article 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, a protected
  purchaser of a security, or a qualifying purchaser of a controllable account, controllable
  electronic record, or controllable payment intangible. These holders or purchasers
  take priority over an earlier security interest, even if perfected, to the extent
  provided in Articles 3, 7, 8, and 12 of this title. (b) This article does not limit the rights of or impose liability on a person to the extent
  that the person is protected against the assertion of an adverse claim under Article
  8 or 12 of this title. (c) Filing under this article does not constitute notice of a claim or defense to the
  holders, or purchasers, or persons described in subsections (a) and (b) of this section. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2025, No. 17, § 9, eff. July 1, 2025.)