14-9-307. PROTECTION OF BUYERS OF GOODS.

1. A buyer in the ordinary course of business (subsection (9) of Gen. Com. Prov. Chap. Section 201), other than a person buying farm products from a person engaged in farming operations, take free of a security interest created by his seller even though that security interest is perfected and even though the buyer knows of its existence.
2. In the case of consumer goods, a buyer takes free of a security interest even though perfected if he buys without knowledge of the security interest for value and for his own personal, family or household purposes unless, prior to the purchase, the secured party has filed a financing statement cover such goods.
3. A buyer other than a buyer in the ordinary course of business (subsection (1) of this section) takes free of a security interest to the extent that it secures future advances made after the secured party acquires knowledge of the purchase, or more than 45 days after the purchase, whichever first occurs, unless those advances are made pursuant to a commitment entered into without knowledge of the purchase and before the expiration of the 45 day period.