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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : SECURED TRANSACTIONS

(Cite as: 9A V.S.A. § 9-709)
  • § 9-709. Priority

    (a) The provisions of this article as in effect prior to July 1, 2001 determine the priority of conflicting claims to collateral if the relative priorities of the parties were fixed before July 1, 2001. In other cases, the provisions of this article as in effect on and after July 1, 2001 determine priority.

    (b) For purposes of subsection 9- 322(a) of this title as in effect on and after July 1, 2001, the priority of a security interest that becomes a perfected security interest under section 9- 704 of this title as in effect on and after July 1, 2001 dates from the time the applicable requirements for perfection are satisfied. This subsection does not apply to conflicting security interests, each of which becomes a perfected security interest under section 9- 704 of this title as in effect on and after July 1, 2001.

    (c) For purposes of subsection 9- 322(a) of this title as in effect on and after July 1, 2001, the priority of a security interest that becomes enforceable under section 9- 203 of this title as in effect on and after July 1, 2001 dates from July 1, 2001 if the security interest is perfected under the provisions of this article as in effect on and after July 1, 2001 by the filing of a financing statement before July 1, 2001 which would not have been effective to perfect the security interest under the provisions of this article as in effect prior to July 1, 2001. This subsection does not apply to conflicting security interests, each of which is perfected by the filing of such a financing statement. (Added 2001, No. 46, § 12.)