Article 14-12-2Priority of Enterprise Value Security Rights Created on or before the Statutory Payment Due Date, etc.

①If a taxpayer or special collection agent has created an enterprise value security right on its property on or before the statutory payment due date, etc. of local government levies, those local government levies are collected from the proceeds of realization of that property after the claim secured by that enterprise value security right.

②The principal amount of a specified secured claim prescribed in Article 6, paragraph (4) of the Act on the Promotion of Business Financing, etc. (Act No. 52 of 2024), secured by an enterprise value security right that takes precedence over local government levies pursuant to the provisions of the preceding paragraph, is limited to the amount of the claim at the time when the holder of the enterprise value security right received notice of the seizure or request for share distribution relating to those local government levies; provided, however, that this does not apply where it would prejudice the rights of a person who holds another claim that takes priority over those local government levies.