Section 382-A:9-704 Security Interest Unperfected Before Effective Date.
A security interest that is enforceable immediately before this Act 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 Act takes effect;
(2) remains enforceable thereafter if the security interest becomes enforceable under Section 9-203 when this Act takes effect or within one year thereafter; and
(3) becomes perfected:
(A) without further action, when this Act takes effect if the applicable requirements for perfection under this Act 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.
Source. 2001, 102:25, eff. July 1, 2001.