NH Rev Stat § 382-A:9-324 (2021)
2021 New Hampshire Revised Statutes|Title XXXIV-A - Uniform Commercial Code|Title 382-A - Uniform Commercial Code|Section 382-A:9-324 - Priority of Purchase-Money Security Interests.

    382-A:9-324 Priority of Purchase-Money Security Interests. –||(a) General rule: purchase-money priority. Except as otherwise provided in subsection (g), a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except as otherwise provided in Section 9-327, a perfected security interest in its identifiable proceeds also has priority, if the purchase-money security interest is perfected when the debtor receives possession of the collateral or within 20 days thereafter.||(b) Inventory purchase-money priority. Subject to subsection (c) and except as otherwise provided in subsection (g), a perfected purchase-money security interest in inventory has priority over a conflicting security interest in the same inventory, has priority over a conflicting security interest in chattel paper or an instrument constituting proceeds of the inventory and in proceeds of the chattel paper, if so provided in Section 9-330, and, except as otherwise provided in Section 9-327, also has priority in identifiable cash proceeds of the inventory to the extent the identifiable cash proceeds are received on or before the delivery of the inventory to a buyer, if:||(1) the purchase-money security interest is perfected when the debtor receives possession of the inventory;||(2) the purchase-money secured party sends an authenticated notification to the holder of the conflicting security interest;||(3) the holder of the conflicting security interest receives the notification within five years before the debtor receives possession of the inventory; and||(4) the notification states that the person sending the notification has or expects to acquire a purchase-money security interest in inventory of the debtor and describes the inventory.||(c) Holders of conflicting inventory security interests to be notified. Subsections (b)(2) through (4) apply only if the holder of the conflicting security interest had filed a financing statement covering the same types of inventory:||(1) if the purchase-money security interest is perfected by filing, before the date of the filing; or||(2) if the purchase-money security interest is temporarily perfected without filing or possession under Section 9-312(f), before the beginning of the 20-day period thereunder.||(d) Livestock purchase-money priority. Subject to subsection (e) and except as otherwise provided in subsection (g), a perfected purchase-money security interest in livestock that are farm products has priority over a conflicting security interest in the same livestock, and, except as otherwise provided in Section 9-327, a perfected security interest in their identifiable proceeds and identifiable products in their unmanufactured states also has priority, if:||(1) the purchase-money security interest is perfected when the debtor receives possession of the livestock;||(2) the purchase-money secured party sends an authenticated notification to the holder of the conflicting security interest;||(3) the holder of the conflicting security interest receives the notification within six months before the debtor receives possession of the livestock; and||(4) the notification states that the person sending the notification has or expects to acquire a purchase-money security interest in livestock of the debtor and describes the livestock.||(e) Holders of conflicting livestock security interests to be notified. Subsections (d)(2) through (4) apply only if the holder of the conflicting security interest had filed a financing statement covering the same types of livestock:||(1) if the purchase-money security interest is perfected by filing, before the date of the filing; or||(2) if the purchase-money security interest is temporarily perfected without filing or possession under Section 9-312(f), before the beginning of the 20-day period thereunder.||(f) Software purchase-money priority. Except as otherwise provided in subsection (g), a perfected purchase-money security interest in software has priority over a conflicting security interest in the same collateral, and, except as otherwise provided in Section 9-327, a perfected security interest in its identifiable proceeds also has priority, to the extent that the purchase-money security interest in the goods in which the software was acquired for use has priority in the goods and proceeds of the goods under this section.||(g) Conflicting purchase-money security interests. If more than one security interest qualifies for priority in the same collateral under subsection (a), (b), (d), or (f):||(1) a security interest securing an obligation incurred as all or part of the price of the collateral has priority over a security interest securing an obligation incurred for value given to enable the debtor to acquire rights in or the use of collateral; and||(2) in all other cases, Section 9-322(a) applies to the qualifying security interests.|||Source. 2001, 102:25, eff. July 1, 2001.|