US Uniform Commercial Code Article 9 Secured Transactions 9-322-9-324-priority-rules: Apply first-to-file-or-perfect priority among conflicting security interests, with the purchase-money super-priorities on their notice and timing conditions and future advances dated to the first filing

What does 9-322-9-324-priority-rules require?

Competing security interests and agricultural liens, where perfected, rank by the earlier of filing or perfection, so long as there is no period without filing or perfection; a perfected interest beats an unperfected one; and unperfected interests rank by attachment (section 9-322), with the same ranking carried to proceeds and supporting obligations and the special proceeds rules for non-filing collateral. Priority of future advances dates from the first filing or perfection, except against lien creditors (advances made more than forty-five days after the lien arise without knowledge are protected) and against buyers and lessees (advances after knowledge or forty-five days) (section 9-323). A purchase-money security interest in goods that are not inventory or livestock beats competing interests if perfected when the debtor receives possession or within twenty days after; in inventory and livestock it has priority only if perfected when the debtor receives possession and the purchase-money party sent an authenticated notification to holders of conflicting filed interests within the five years before, received before the debtor takes possession, describing the inventory (section 9-324). Transferred collateral, new debtors, and the deposit account, investment property, letter-of-credit right, chattel paper, instrument and controllable electronic record priority rules follow in sections 9-325 to 9-331.