New Jersey Revised Statutes § 12a:9-709 - Priority.

12A:9-709 Priority.

12A:9-709 Priority.

(a)Law governing priority. This chapter determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this chapter takes effect, former Chapter 9 determines priority.

(b)Priority if security interest becomes enforceable under 12A:9-203. For purposes of 12A:9-322 (a), the priority of a security interest that becomes enforceable under 12A:9-203 of this chapter dates from the time this chapter takes effect if the security interest is perfected under this chapter by the filing of a financing statement before this chapter takes effect which would not have been effective to perfect the security interest under former Chapter 9. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.

L.2001, c.117, s.1; (old 708) amended 2001, c.386, s.126.


Section: Previous  12a-9-702  12a-9-703  12a-9-704  12a-9-705  12a-9-706  12a-9-707  12a-9-708  12a-9-709  12a-9-710  12a-9-801  12a-9-802  12a-9-803  12a-9-804  12a-9-805  12a-9-806  Next

Last modified: October 11, 2016