Nothing in this Article limits the rights of a holder in due course of a negotiable instrument (section 554.3302) or a holder to whom a negotiable document of title has been duly negotiated (section 554.7501) or a protected purchaser of a security (section 554.8303) and such holders or purchasers take priority over an earlier security interest even though perfected. Filing under this Article does not constitute notice of the security interest to such holders or purchasers.
[C66, 71, 73, 75, 77, 79, 81, § 554.9309]
89 Acts, ch 113, § 52; 96 Acts, ch 1138, § 76, 84
Referred to in § 15E.91, 16.26, 16A.9
1996 amendments take effect July 1, 1997; 96 Acts, ch 1138, § 84; for provisions governing the continued perfection of security interests that are perfected as of July 1, 1997, see 96 Acts, ch 1138, § 80, 84; for law prior to July 1, 1997, see Code 1995
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