Current through 2024 Legislative Session Act Chapter 531
Section A-306 - Priority of claims when priority rules of article 9 do not apply(a) Determination of priority.- Subject to subsections (b) and (c), Article 12 determines the priority of conflicting claims to Article 12 property when the priority rules of Article 9, as amended by the amending Act, do not apply.(b) Established priorities.- Subject to subsection (c), when the priority rules of Article 9, as amended by the amending Act, do not apply and the priorities of claims to Article 12 property were established before [the effective date of this Act], law other than Article 12 determines priority.(c) Determination of certain priorities on adjustment date.- When the priority rules of Article 9, as amended by the amending Act, do not apply, to the extent the priorities determined by the amending Act modify the priorities established before [the effective date of this Act], the priorities of claims to Article 12 property established before [the effective date of this Act] cease to apply on the adjustment date.Added by Laws 2023 , ch. 174, s 90, eff. 8/18/2023.