A failure to make the statement, when required as above provided, shall have the effect to postpone the priority of the security interest and give the levy of the writ of attachment or execution priority over the claim of the holder thereof.
[C97, § 3989; C24, 27, 31, 35, 39, § 11696; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 626.48]
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