RS 10:9-704
130 words·~1 min read·
/la/title-10/10-406A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 10:9-704
§9-704. Security interest unperfected before July 1, 2001
A 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 R.S. 10:9-203 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 Chapter 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.
Acts 2001, No. 128, §1, eff. July 1, 2001.