§15-305. Priority
148 words·~1 min read·
/me/title-11-uniform-commercial-code/15-305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1). Subject to subsections
(2)and
(3), this Title as in effect on July 1, 2025 determines the priority of conflicting claims to collateral.
[PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
(2). Subject to subsection
(3), if the priorities of claims to collateral were established before July 1, 2025, Article 9‑A as in effect before July 1, 2025 determines priority.
[PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
(3). On the adjustment date, to the extent the priorities determined by Article 9‑A as in effect after July 1, 2025 modify the priorities established before July 1, 2025, the priorities of claims to Article 12 property established before July 1, 2025 cease to apply.
[PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]