First National Bank, Cortez v. First Interstate Bank, Riverton

*646THOMAS, Justice.

Upon the rehearing which the court granted in this case, the majority became convinced that the original opinion of the court was in error.1 The issue now to be resolved is whether a secured party must set forth in a security agreement or financing statement with specificity the amount of any antecedent indebtedness that the instrument secures or yield priority to a subsequent creditor if it fails to do so. The court has concluded that, so long as a security interest is properly perfected, priority is not lost under such circumstances because the subsequent creditor has the…