§15-303. Security interest unperfected before effective date
207 words·~1 min read·
/me/title-11-uniform-commercial-code/15-303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A security interest that is enforceable immediately before July 1, 2025 but is unperfected at that time: [PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
(1). Remains an enforceable security interest until the adjustment date;
[PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
(2). Remains enforceable thereafter if the security interest becomes enforceable under section 9‑1203 , as in effect on July 1, 2025, on July 1, 2025 or before the adjustment date; and
[PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
(3). Becomes perfected:
(a). Without further action, on July 1, 2025 if the requirements for perfection under this Title as in effect on July 1, 2025 are satisfied before or at that time; or [PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
(b). When the requirements for perfection under this Title are satisfied if the requirements are satisfied after that time. [PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
[PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]