Can you summarize MNST 336.9-333?

Short Summary

(a) Possessory lien. In this section, ‘possessory lien’ means an interest, other than a security interest or an agricultural lien: (1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person’s business; (2) which is created by statute or rule of law in favor of the person; and (3) whose effectiveness depends on the person’s possession of the goods. (b) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise. History: 2000 c 399 art 1 s 53

Jurisdiction

Minnesota

Source

• Banking