{"data":{"id":"us-mi/mich.-comp.-laws-440.9323","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.9323","heading":"Future advances.","body":"Sec. 9323.\n\nExcept as otherwise provided in subsection (3), for purposes of determining the priority of a perfected security interest under section 9322(1)(a), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that meets both of the following:\n\nIs made while the security interest is perfected only under 1 of the following:\n\nUnder section 9309 when it attaches.\n\nTemporarily under section 9312(5), (6), or (7).\n\nIs not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under section 9309 or 9312(5), (6), or (7).\n\nExcept as otherwise provided in subsection (3), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than 45 days after the person becomes a lien creditor unless the advance is made without knowledge of the lien, or pursuant to a commitment entered into without knowledge of the lien.\n\nSubsections (1) and (2) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.\n\nExcept as otherwise provided in subsection (5), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of the following:\n\nThe time the secured party acquires knowledge of the buyer's purchase.\n\nForty-five days after the purchase.\n\nSubsection (4) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the 45-day period.\n\nExcept as otherwise provided in subsection (7), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of the following:\n\nThe time the secured party acquires knowledge of the lease.\n\nForty-five days after the lease contract becomes enforceable.\n\nSubsection (6) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-9323","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"aa5e1c8ff0d5af94713a01363dbcdc17ee9d684844dfab5fecdb2617cdab0993","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.9322","next":"us-mi/mich.-comp.-laws-440.9324"},"notice":"GroundRules: Original legal text. Not legal advice."}