(9-331) Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other articles - Priority of interests in financial assets and security entitlements and protection against assertion of claim under chapters 41-08 and 41-12
N.D. Cent. Code § 41-09-51
in effect41-09-51. (9-331) Priority of rights of purchasers of controllable accounts,
controllable electronic records, controllable payment intangibles, documents,
instruments, and securities under other articles - Priority of interests in financial assets
and security entitlements and protection against assertion of claim under chapters 41-08
and 41-12.
1. 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,
a protected purchaser of a security, or a qualifying purchaser of a controllable account,
controllable electronic record, or controllable payment intangible. These holders or
purchasers take priority over an earlier security interest, even if perfected, to the extent
provided in chapters 41-03, 41-07, 41-08, and 41-12.
2. 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 chapters 41-08 and
41-12.
3. Filing under this chapter does not constitute notice of a claim or defense to the
holders, purchasers, or persons described in subsections 1 and 2.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c09.pdf#nameddest=41-09-51Fetched: 10/16/2026