The basic rule established by the Uniform Commercial Code is that when more than one security interest in the same collateral has been filed, the last security interest to be filed has priority over any that is filed earlier.

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The basic rule established by the Uniform Commercial Code (UCC) is that the first security interest to be filed or perfected has priority over others filed later. This is a "first in time, first in right" principle.

The Basic Rule Established by the Uniform Commercial Code Is