47-9709

47-9709. Priority

A. This chapter determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former chapter 9 of this title determines priority.

B. For purposes of section 47-9322, subsection A, the priority of a security interest that becomes enforceable under section 47-9203 dates from July 1, 2001 if the security interest is perfected under this chapter by the filing of a financing statement before July 1, 2001 that would not have been effective to perfect the security interest under former chapter 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.