§ 9-709. Priority.
142 words·~1 min read·
/de/title-6/chapter-9/9-709A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Law governing priority. — 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 of the Uniform Commercial Code determines priority.
(b)Priority if security interest becomes enforceable under Section 9-203. — For purposes of Section 9-322(a), the priority of a security interest that becomes enforceable under Section 9-203 of this Act 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 the Uniform Commercial Code. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.