N.D. Cent. Code § 47-35-02: Cash proceeds - Priority

1.An assignee's security interest in identifiable cash proceeds is perfected if its security interest in rents is perfected. An assignee's security interest in identifiable noncash proceeds is perfected only if the assignee perfects that interest in accordance with chapter 41-09.

2.Except as otherwise provided in subsection 3, priority between an assignee's security interest in identifiable proceeds and a conflicting interest is governed by the priority rules in chapter 41-09.

3.An assignee's perfected security interest in identifiable cash proceeds is subordinate to a conflicting interest that is perfected by control under chapter 41-09 but has priority over a conflicting interest that is perfected other than by control.