Current as of January 01, 2020 | Updated by FindLaw Staff
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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.
Cite this article: FindLaw.com - North Dakota Century Code Title 41. Uniform Commercial Code § 41-09-131. (9-709) Priority - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-41-uniform-commercial-code/nd-cent-code-sect-41-09-131.html
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