Current through 2024 Legislative Session Act Chapter 510
Section A-304 - Effectiveness of actions taken before effective date(a) Pre-effective-date action; attachment and perfection before adjustment date.- If action, other than the filing of a financing statement, is taken before [the effective date of this Act] and the action would have resulted in perfection of the security interest had the security interest become enforceable before [the effective date of this Act], the action is effective to perfect a security interest that attaches under the amending Act before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under the amending Act before the adjustment date.(b) Pre-effective-date filing.- The filing of a financing statement before [the effective date of this Act] is effective to perfect a security interest on [the effective date of this Act] to the extent the filing would satisfy the requirements for perfection under the amending Act.(c) Pre-effective-date enforceability action.- The taking of an action before [the effective date of this Act] is sufficient for the enforceability of a security interest on [the effective date of this Act] if the action would satisfy the requirements for enforceability under the amending Act.Added by Laws 2023 , ch. 174, s 90, eff. 8/18/2023.