A security interest that is enforceable June 30, 2001, but that would be subordinate to the rights of a person who becomes a lien creditor June 30, 2001,
(1) remains an enforceable security interest until July 1, 2002;
(2) remains enforceable on and after July 1, 2002, if the security interest becomes enforceable under AS 45.29.203 on July 1, 2001, or before July 1, 2002; and
(3) becomes perfected
(A) without further action on July 1, 2001, if the applicable requirements for perfection under this chapter are satisfied before July 1, 2001; or
(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied on or after July 1, 2001.
Section: Previous 45.29.702 45.29.703 45.29.704 45.29.705 45.29.706 45.29.707 45.29.708 45.29.709 NextLast modified: November 15, 2016