{"data":{"id":"us-vt/9a-v.s.a.-9-103a","jurisdiction":"us-vt","citation":"9A V.S.A. § 9—103A","heading":"“Production-money crops”; “production-money obligation”; “production-money security interest”; burden of establishing","body":"(a) A security interest in crops is a production-money security interest to the extent that the crops are production-money crops.\n(b) If the extent to which a security interest is a production-money security interest depends on the application of a payment to a particular obligation, the payment must be applied:\n(1) in accordance with any reasonable method of application to which the parties agree;\n(2) in the absence of the parties’ agreement to a reasonable method, in accordance with any intention of the obligor manifested at or before the time of payment; or\n(3) in the absence of an agreement to a reasonable method and a timely manifestation of the obligor’s intention, in the following order:\n(A) to obligations that are not secured; and\n(B) if more than one obligation is secured, to obligations secured by production-money security interests in the order in which those obligations were incurred.\n(c) A production-money security interest does not lose its status as such, even if:\n(1) the production-money crops also secure an obligation that is not a production-money obligation;\n(2) collateral that is not production-money crops also secures the production-money obligation; or\n(3) the production-money obligation has been renewed, refinanced, or restructured.\n(d) A secured party claiming a production-money security interest has the burden of establishing the extent to which the security interest is a production-money security interest.","path":["Title 9A: Uniform Commercial Code","Article 009: Secured Transactions"],"source_url":"https://legislature.vermont.gov/statutes/fullchapter/09A/009","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T14:57:21Z","sha256":"277a004fefb4619464df928104956af1f065914435fb9c2689cf9a29105aebcb","source_id":"us-vt","stale":false,"prev":"us-vt/9a-v.s.a.-9-103","next":"us-vt/9a-v.s.a.-9-104"},"notice":"GroundRules: Original legal text. Not legal advice."}