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Code · North Dakota · Title 41 · Chapter 41-09 — Secured Transactions

41-09-133. (9-803) Security interest perfected before effective date.

131 words·~1 min read·/nd/title-41/chapter-41-09-secured-transactions/41-09-133·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. A security interest that is a perfected security interest immediately before this Act takes
effect is a perfected security interest under this chapter as amended by this Act if,
when this Act takes effect, the applicable requirements for attachment and perfection
under this chapter as amended by this Act are satisfied without further action.
2. Except as otherwise provided in section 41-09-135, if, immediately before this Act
takes effect, a security interest is a perfected security interest, but the applicable
requirements for perfection under this chapter as amended by this Act are not satisfied
when this Act takes effect, the security interest remains perfected thereafter only if the
applicable requirements for perfection under this chapter as amended by this Act are
satisfied within one year after this Act takes effect.
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