(1) Subject to Subsections (2) and (3), this chapter determines the priority of conflicting claims to collateral.
(2) Subject to Subsection (3), if the priorities of claims to collateral were established before May 6, 2026, Chapter 9a, Uniform Commercial Code - Secured Transactions, as in effect before May 6, 2026, determines priority.
(3) On the adjustment date, to the extent the priorities determined by Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter modify the priorities established before May 6, 2026, the priorities of claims to Article 12 property and electronic money established before May 6, 2026, cease to apply.