Section 400.9-704 - Security interest unperfected before effective dateA security interest that is enforceable immediately before July 1, 2001, 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 July 1, 2001;(2) Remains enforceable thereafter if the security interest becomes enforceable under section 400.9-203 on July 1, 2001, or within one year thereafter; and(3) Becomes perfected: (A) Without further action, on July 1, 2001, 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.L. 2001 S.B. 288
Effective 7/1/2001