Section 41-09-126 - (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 until July 1, 2002;2. Remains enforceable thereafter if the security interest becomes enforceable under section 41-09-13 on July 1, 2001, or within one year thereafter; and3. Becomes perfected:a. Without further action, on July 1, 2001, if the applicable requirements for perfection under this chapter are satisfied before or at that time; orb. When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.