North Dakota § 41-09-131 (9-709) Priority

North Dakota Statutes

§ 41-09-131 — (9-709) Priority

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-09 Secured Transactions

1.This chapter determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, the former chapter 41-09 determines priority.

2.For purposes of subsection 1 of section 41-09-42, the priority of a security interest that becomes enforceable under section 41-09-13 dates from July 1, 2001, if the security interest is perfected under this chapter by the filing of a financing statement before July 1, 2001, which would not have been effective to perfect the security interest under the former chapter 41-09. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.

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1. This chapter determines the priority of conflicting claims to collateral. However, if the
relative priorities of the claims were established before July 1, 2001, the former
chapter 41-09 determines priority.
2. For purposes of subsection 1 of section 41-09-42, the priority of a security interest that
becomes enforceable under section 41-09-13 dates from July 1, 2001, if the security
interest is perfected under this chapter by the filing of a financing statement before
July 1, 2001, which would not have been effective to perfect the security interest under
the former chapter 41-09. This subsection does not apply to conflicting security
interests each of which is perfected by the filing of such a financing statement.

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