(a) Determination of priority. Subject to subsections (b) and (c), Act 2023-492 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 July 1, 2024, Article 9A as in effect before July 1, 2024, determines priority.
(c) Determination of certain priorities on adjustment date. On the adjustment date, to the extent the priorities determined by Article 9A as amended by Act 2023-492 modify the priorities established before July 1, 2024, the priorities of claims to Article 12 property established before July 1, 2024, cease to apply.