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New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS
Chapter 2a:
Section: 12A:2a-307: Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
12A:2A-307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
(1) Except as otherwise provided in 12A:2A-306, a creditor of a lessee takes subject to the lease contract. (2) Except as otherwise provided in subsection (3) and in 12A:2A-306 and 12A:2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.
(3) Except as otherwise provided in 12A:9-317, 12A:9-321 and 12A:9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.
L.1994, c.114, s.1; amended 2001, c.117, s.12; 2001, c.386, s.132.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 12a:2a-307 (if available):
Court decisions that cite this statute:
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