Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Section 9-301 of chapter 106 of the General Laws, as appearing in the 1990 Official Edition, is hereby amended by striking out paragraph (2) and inserting in place thereof the following paragraph:-
(2) If the secured party files with respect to a purchase money security interest before or within twenty days after the debtor receives possession of the collateral, he takes priority over the rights of a transferee in bulk or of a lien creditor which arise between the time the security interest attaches and the time of filing.
SECTION 2. Paragraph (4) of section 9-312 of said chapter 106, as so appearing, is hereby amended by striking out, in line 38, the word "ten" and inserting in place thereof the word:- twenty.