(a) Law governing priority. This title determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this title takes effect, former Title 8.9 determines priority.

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(b) Priority if security interest becomes enforceable under § 8.9A-203. For purposes of § 8.9A-322 (a), the priority of a security interest that becomes enforceable under § 8.9A-203 dates from the time this title takes effect if the security interest is perfected under this title by the filing of a financing statement before this title takes effect which would not have been effective to perfect the security interest under former Title 8.9. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.

2000, c. 1007.