(a) Determination of priority. Subject to subsections (b) and (c) of this section, the amendatory act determines the priority of conflicting claims to collateral. (b) Established priorities. Subject to subsection (c) of this section, if the priorities of claims to collateral were established before January 1, 2024, chapter 9 of this title as in effect before January 1, 2024, determines priority. (c) Determination of certain priorities on adjustment date. On the adjustment date, to the extent the priorities determined by chapter 9 of this title as amended by the amendatory act modify the priorities established before January 1, 2024, the priorities of claims to chapter 12 of this title property and electronic money established before January 1, 2024, cease to apply. History of Section.P.L. 2024, ch. 65, § 12, effective June 10, 2024; P.L. 2024, ch. 66, § 12, effective June 10, 2024.
Rhode Island Legal Code