I can't seem to find this anywhere in the book, and everyone I've asked has no clue....
But does a PMSI have to file in order to perfect????
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beansoc47
offlineMemberA PMSI in consumer goods is automatically perfected.
A PMSI in inventory will have priority over a prior perfected security interest if you file a financing statement before the debtor receives possession of the collateral and if you give notice to any other secured party in the collateral before the debtor takes possession of the collateral.
A PMSI in noninventory will have priority over a prior perfected security interest if you perfect within 20 days of the debtor taking possession of the collateral.
I don't know if this necessarily answers your questions, but I hope it helps!!
Posted 1 year ago # -
jjpop39
offlineMemberTo add to the point above,
PMSI interest that is automatically perfected in inventory is superior to all other interests EXCEPT to that of an ordinary consumer. The only way to be superior to that of an ordinary consumer is to file. Filing serves as constructive notice and will defeat that the interest of an ordinary consumer.
Posted 1 year ago #
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