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§12A-2A-308.


§12A-2A-308.
   
                        SPECIAL RIGHTS OF CREDITORS
                                      
   (1) A creditor of a lessor in possession of goods subject to a lease
   contract may treat the lease contract as void if as against the
   creditor retention of possession by the lessor is fraudulent under any
   statute or rule of law, but retention of possession in good faith and
   current course of trade by the lessor for a commercially reasonable
   time after the lease contract becomes enforceable is not fraudulent.
   
   (2) Nothing in this article impairs the rights of creditors of a
   lessor if the lease contract:
   
   (a) becomes enforceable, not in current course of trade but in
   satisfaction of or as security for a preexisting claim for money,
   security, or the like, and
   
   (b) is made under circumstances which under any statute or rule of law
   apart from this article would constitute the transaction a fraudulent
   transfer or voidable preference.
   
   (3) A creditor of a seller may treat a sale or an identification of
   goods to a contract for sale as void if as against the creditor
   retention of possession by the seller is fraudulent under any statute
   or rule of law, but retention of possession of the goods pursuant to a
   lease contract entered into by the seller as lessee and the buyer as
   lessor in connection with the sale or identification of the goods is
   not fraudulent if the buyer bought for value and in good faith.
   

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