§ 9-704
116 words·~1 min read·
/md/commercial-law/9-704A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–704.
A security interest that is enforceable immediately before this title 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 one year after this title takes effect;
(2)Remains enforceable thereafter if the security interest becomes enforceable under § 9-203 when this title takes effect or within one year thereafter; and
(3)Becomes perfected:
(A)Without further action, when this title takes effect if the applicable requirements for perfection under this title 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.