57A-9-331 Rights of holder in due course of negotiable instrument, holder of negotiable document of ...
Rights of holder in due course of negotiable instrument, holder of negotiable
document of title, or protected purchaser of security--Rights of person protected under chapter 57A-8.
(a) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a
holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of
a security. These holders or purchasers take priority over an earlier security interest, even if
perfected, to the extent provided in chapters 57A-3, 57A-7, and 57A-8.
(b) This chapter does not limit the rights of or impose liability on a person to the extent that the
person is protected against the assertion of a claim under chapter 57A-8.
(c) Filing under this article does not constitute notice of a claim or defense to the holders, or
purchasers, or persons described in subsections (a) and (b).
Source: SL 2000, ch 231.