§ 25-9-709. Priority. - North Carolina Statutes

§25‑9‑709.  Priority.

(a)        Law governingpriority. – This act determines the priority of conflicting claims tocollateral. However, if the relative priorities of the claims were establishedbefore July 1, 2001, former Article 9 determines priority.

(b)        Priority ifsecurity interest becomes enforceable under G.S. 25‑9‑203. – Forpurposes of G.S. 25‑9‑322(a), the priority of a security interestthat becomes enforceable under G.S. 25‑9‑203 dates from July 1,2001 if the security interest is perfected under this act by the filing of afinancing statement before July 1, 2001 which would not have been effective toperfect the security interest under former Article 9. This subsection does notapply to conflicting security interests each of which is perfected by thefiling of such a financing statement. (2000‑169, s. 1.)