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0 tracked cards Supplemental - Not MEE July 2026

Two secured parties have perfected security interests in the same equipment, and no PMSI, buyer, lien-creditor, or control priority rule applies.
What is the baseline Article 9 priority rule?

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All perfected secured parties share equally in every case. The first secured party to file or perfect generally has priority, if there is no lapse and no special priority rule applies. The secured party that attached first always wins, even if another filed earlier and later attached. The debtor may choose the priority order after default.

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