California Commercial Code 17305 – (a) Subject to subdivisions (b) and (c), the act adding this …
(a) Subject to subdivisions (b) and (c), the act adding this division determines the priority of conflicting claims to collateral.
(b) Subject to subdivision (c), if the priorities of claims to collateral were established before the effective date of the act adding this division, Division 9 (commencing with Section 9101) as in effect before the effective date of the act adding this division determines priority.
Terms Used In California Commercial Code 17305
- Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See California Commercial Code 1201
- Money: means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. See California Commercial Code 1201
(c) On the adjustment date, to the extent the priorities determined by Division 9 (commencing with Section 9101), as amended by the act adding this division, modify the priorities established before the effective date of the act adding this division, the priorities of claims to Division 12 property and electronic money established before the effective date of the act adding this division cease to apply.
(Added by Stats. 2023, Ch. 210, Sec. 91. (SB 95) Effective January 1, 2024.)