Section 11-9-325. Priority of security interests in transferred collateral.

   (a)  Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b) of this Code section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:

   (1) The debtor acquired the collateral subject to the security interest created by the other person;

   (2) The security interest created by the other person was perfected when the debtor acquired the collateral; and

   (3) There is no period thereafter when the security interest is unperfected.

(b)  Limitation of subsection (a) of this Code section subordination. Subsection (a) of this Code section subordinates a security interest only if the security interest:

   (1) Otherwise would have priority solely under subsection (a) of Code Section 11-9-322 or Code Section 11-9-324; or

   (2) Arose solely under subsection (3) of Code Section 11-2-711 or subsection (5) of Code Section 11-2A-508.

Code 1981, § 11-9-325, enacted by Ga. L. 2001, p. 362, § 1.