A subsequent PMSI creditor cannot take priority over a prior perfected PMSI creditor.

Name: A subsequent PMSI creditor cannot take priority over a prior perfected PMSI creditor.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A subsequent PMSI (Purchase Money Security Interest) creditor can take priority over a prior perfected PMSI creditor if they follow specific rules, such as providing proper notice and perfecting their interest within a certain time frame.

A Subsequent PMSI Creditor Cannot Take Priority Over a Prior