24.48.080 Priority

(a) Chapters 24.42 through 24.48 determine the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before [the effective date of Chapters 24.42 through 24.48], the former chapter 24 determines priority.

(b) For purposes of subsection (a) of Section 24.44.220, the priority of a security interest that becomes enforceable under Section 24.43.030 dates from [the effective date of Chapters 24.42 through 24.48], if the security interest is perfected under Chapters 24.42 through 24.48 by the filing of a financing statement [the effective date of Chapters 24.42 through 24.48], which would not have been effective to perfect the security interest under the former chapter 24. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.