§ 9-709. 9-709
131 words·~1 min read·
/us/ucc/a9/s9-709A 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] 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]. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.