Prior valid recorded liens, mortgages, and other encumbrances shall have priority over a broker’s lien. Such prior recorded liens, mortgages, and encumbrances shall include, without limitation:
1. A valid mechanic’s lien claim that is recorded after the broker’s notice of lien but which relates back to a date prior to the recording date of the broker’s notice of lien; and
2. Prior recorded liens securing revolving credit and future advances or construction loans.
Added by Laws 2006, c. 166, § 8, eff. Nov. 1, 2006.