1998 Minnesota Statutes

     336.9-107 Definitions; "purchase money security 
  interest".  

    A security interest is a "purchase money security interest" 
 to the extent that it is 

    (a) taken or retained by the seller of the collateral to 
 secure all or part of its price; or 

    (b) taken by a person who by making advances or incurring 
 an obligation gives value to enable the debtor to acquire rights 
 in or the use of collateral if such value is in fact so used.  

    HIST: 1965 c 811 s 336.9-107