[Code of Federal Regulations]
[Title 9, Volume 2]
[Revised as of January 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 9CFR205.212]

[Page 71-72]
 
                  TITLE 9--ANIMALS AND ANIMAL PRODUCTS
 
  CHAPTER II--GRAIN INSPECTION, PACKERS AND STOCKYARDS ADMINISTRATION 
       (PACKERS AND STOCKYARDS PROGRAMS),DEPARTMENT OF AGRICULTURE
 
PART 205_CLEAR TITLE_PROTECTION FOR PURCHASERS OF FARM PRODUCTS
--Table of Contents
 
Sec. 205.212  ``Buyer in ordinary course of business'' and ``security 
interest.''

    The terms ``buyer in ordinary course of business'' and ``security 
interest'' are defined in subsections (c) (1) and (7). There are 
differences between those

[[Page 72]]

definitions and the UCC definitions of the same terms. In interpreting 
those differences, the following would be pertinent:
    (a) The legislative intent discussed above in Sec. 205.211, to pre-
empt State laws reflecting the ``farm products'' exception; and
    (b) The legislative intent shown in subsections (a) and (b) that 
certain persons take free and clear of certain interests of a ``secured 
lender'' ``when the seller fails to repay the lender,'' unless such 
persons have information about such interests made available to them as 
provided in the Section.