§9-1704. Security interest unperfected before effective date
A security interest that is enforceable immediately before this Article takes effect but which would be subordinate to the
rights of a person that becomes a lien creditor at that time: [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]
(1).
Remains an enforceable security interest for one year after this Article takes effect;
[
1999, c. 699, Pt. A, §2 (NEW);
1999, c. 699, Pt. A, §4 (AFF)
.]
(2).
Remains enforceable thereafter if the security interest becomes enforceable under section 9-1203 when this Article takes
effect or within one year thereafter; and
[
1999, c. 699, Pt. A, §2 (NEW);
1999, c. 699, Pt. A, §4 (AFF)
.]
(3).
Becomes perfected:
(a). Without further action, when this Article takes effect if the applicable requirements for perfection under this Article
are satisfied before or at that time; or [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]
(b). When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time. [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]
[
1999, c. 699, Pt. A, §2 (NEW);
1999, c. 699, Pt. A, §4 (AFF)
.]
SECTION HISTORY
1999, c. 699, §A2 (NEW).
1999, c. 699, §A4 (AFF).
Data for this page extracted on 10/16/2012 08:20:53.