§15-305. Priority
(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)
(WHOLE SECTION TEXT EFFECTIVE 7/01/25)
(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).]
SECTION HISTORY
PL 2023, c. 669, Pt. C, §1 (NEW). PL 2023, c. 669, Pt. E, §1 (AFF).