Document ID: chunk:federal_register_of_legislation:C2024C00719:section:72
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 72
Character Range: 164146–164901

72  Priority of holder of negotiable document of title
  The interest of a holder of a negotiable document of title has priority over a perfected security interest in the document of title if:
 (a) the holder gave value for the document of title; and
 (b) the holder:
 (i) in the case of a holder who acquired the document of title in the ordinary course of the holder's business of acquiring documents of title of that kind—acquired the interest without actual or constructive knowledge that the acquisition constitutes a breach of the security agreement that provides for the security interest; or
 (ii) otherwise—acquired the document of title without actual or constructive knowledge of the security interest.

Division 6—Priority of other interests