Section 106:9-704 - Security interest unperfected before effective dateA 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 1 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 1 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.Mass. Gen. Laws ch. 106, § 9-704
Amended by Acts 2001, c. 26, § 39, eff. 7/1/2001.