PRIORITY
(a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, former Article 9 determines priority.
(b) For purposes of subsection (a) of Section 1-9-322 of this title, the priority of a security interest that becomes enforceable under Section 1-9-203 of this title dates from the time this act takes effect if the security interest is perfected under this act by the filing of a financing statement before this act takes effect which would not have been effective to perfect the security interest under former Article 9 of this title. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
Added by Laws 2000, c. 371, § 143, eff. July 1, 2001.
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