Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A buyer or lessee of personal property, for value, takes the personal property free of an unperfected security interest in the property.
(2) Subsection (1) does not apply if the unperfected
security interest was created or provided for by a transaction to which the
buyer or lessee is a party, unless the personal property concerned is of a
kind prescribed by the regulations for the purposes of this subsection.