§490:2A-307 Priority of liens arising by attachment or levy on, security interests in, and other claims to goods. [Section effective until June 30, 2001. For section effective July 1, 2001, see below.] (a) Except as otherwise provided in section 490:2A-306, a creditor of a lessee takes subject to the lease contract.

(b) Except as otherwise provided in subsections (c) and (d) and in sections 490:2A-306 and 490:2A-308, a creditor of a lessor takes subject to the lease contract unless:

(c) A lessee in the ordinary course of business takes the leasehold interest free of a security interest in the goods created by the lessor even though the security interest is perfected (section 490:9-303) and the lessee knows of its existence.

(d) A lessee other than a lessee in the ordinary course of business takes the leasehold interest free of a security interest to the extent that it secures future advances made after the secured party acquires knowledge of the lease or more than forty-five days after the lease contract becomes enforceable, whichever first occurs, unless the future advances are made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five-day period.

§490:2A-307 Priority of liens arising by attachment or levy on, security interests in, and other claims to goods. [Section effective July 1, 2001. For section effective until June 30, 2001, see see above.] (a) Except as otherwise provided in section 490:2A-306, a creditor of a lessee takes subject to the lease contract.

(b) Except as otherwise provided in subsection (c) and sections 490:2A-306 and 490:2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.

(c) Except as otherwise provided in sections 490:9-317, 490:9-321, and 490:9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor. [L 1991, c 40, pt of §1; am L 2000, c 241, §18]