§ 8.9A-704. Security interest unperfected before effective date
A security interest that is enforceable immediately before this title takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:
(1) remains an enforceable security interest for one year after this takes effect;
(2) remains enforceable thereafter if the security interest becomes enforceable under § 8.9A-203 when this title takes effect or within one year thereafter; and
(3) becomes perfected:
(A) without further action, when this title takes effect if the applicable requirements for perfection under this title are satisfied before or at that time; or
(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
(2000, c. 1007.)
Sections: Previous 8.9A-701 8.9A-702 8.9A-703 8.9A-704 8.9A-705 8.9A-706 8.9A-707 8.9A-708 8.9A-709 NextLast modified: April 3, 2009