Section 9-1704 - Security interest unperfected before effective dateA 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).]
1999, c. 699, §A2 (NEW) . 1999, c. 699, §A4 (AFF) .