Can you summarize NVRS 104.9325?

Short Summary

1.Except as otherwise provided in subsection 2, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (a)The debtor acquired the collateral subject to the security interest created by the other person; (b)The security interest created by the other person was perfected when the debtor acquired the collateral; and (c)There is no period thereafter when the security interest is unperfected. 2.Subsection 1 subordinates a security interest only if the security interest: (a)Otherwise would have priority solely under subsection 1 of NRS 104.9322 or NRS 104.9324 ; or (b)Arose solely under subsection 3 of NRS 104.2711 or subsection 5 of NRS 104A.2508. (Added to NRS by 1999, 316)

Jurisdiction

Nevada

Source

• Banking