Commonwealth Consolidated Acts Commonwealth Consolidated ActsA perfected security interest (the priority interest ) that is granted by a grantor in livestock or the proceeds of livestock has priority over any other security interest (other than a purchase money security interest) that is granted by the same grantor in the same livestock or proceeds if:
(a) the priority interest is granted for value; and
(b) the priority interest is granted to enable the livestock to be fed or developed; and
(c) either:
(i) the livestock are held by the grantor at the time the security agreement providing for the priority interest is made; or
(ii) the livestock are acquired by the grantor during the period of 6 months after the day the security agreement providing for the priority interest is made.