(a) Determination of priority. Subject to subsections (b) and (c), this act determines the priority of conflicting claims to collateral. (b) Established priorities. Subject to subsection (c), if the priorities of claims to collateral were established before the effective date of this article, Article 9 as in effect before the effective date of this article determines priority. (c) Determination of certain priorities on adjustment date. On the adjustment date, to the extent the priorities determined by Article 9 as amended by this act modify the priorities established before the effective date of this article, the priorities of claims to Article 12 property established before the effective date of this article shall cease to apply.
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