{"data":{"id":"us-tn/tenn.-code-ann.-47-9-323","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 47-9-323","heading":"Future advances.","body":"(a) When priority based on time of advance. Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under § 47-9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:\n(1) is made while the security interest is perfected only:\n(A) under § 47-9-309 when it attaches; or\n(B) temporarily under § 47-9-312(e), (f), or (g); and\n(2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under § 47-9-309 or § 47-9-312(e), (f), or (g).\n(b) Lien creditor. Except as otherwise provided in subsection (c), 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:\n(1) without knowledge of the lien; or\n(2) pursuant to a commitment entered into without knowledge of the lien.\n(c) Buyer of receivables. Subsections (a) and (b) 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(d) Buyer of goods. Except as otherwise provided in subsection (e), 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:\n(1) the time the secured party acquires knowledge of the buyer's purchase; or\n(2) 45 days after the purchase.\n(e) Advances made pursuant to commitment: priority of buyer of goods. Subsection (d) 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(f) Lessee of goods. Except as otherwise provided in subsection (g), 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:\n(1) the time the secured party acquires knowledge of the lease; or\n(2) 45 days after the lease contract becomes enforceable.\n(g) Advances made pursuant to commitment: priority of lessee of goods. Subsection (f) 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":["Title 47 Commercial Instruments And Transactions","Chapter 9 Secured Transactions","Part 3 Perfection and Priority","3. Priority"],"source_url":"https://archive.org/download/gov.tn.tca/release76.2021.05.21/gov.tn.tca.title.47.odt","current_through":"2021-05-21","vintage":"Tennessee Code Release 76 (2021-05), retrieved 2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or amended","retrieved_at":"2026-09-17T21:55:59Z","sha256":"90ca5275b7abce442a60c75e0d83f847f1e5492ed28e956cc50739893475dac1","source_id":"us-tn","stale":true,"prev":"us-tn/tenn.-code-ann.-47-9-322","next":"us-tn/tenn.-code-ann.-47-9-324"},"notice":"GroundRules: Original legal text. Not legal advice."}