(1) Subject to subsections (2) and (3), this section determines the priority of conflicting claims to collateral. (2) Subject to subsection (3), if the priority of claims to collateral was established before July 1, 2025, chapter 679 as in effect before July 1, 2025, determines priority. (3) On the adjustment date, to the extent the priorities determined by chapter 679 as amended by this act modify the priorities established before July 1, 2025, the priorities of claims to Article 12 property and electronic money established before July 1, 2025, cease to apply.
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