§12A-1-9-704. Security interest unperfected before effective date.
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/ok/title-12a-uniform-commercial-code/12a-1-9-704·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE
A security interest that is enforceable immediately before this act 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
(1)year after this act takes effect;
(2)remains enforceable thereafter if the security interest becomes enforceable under Section 1-9-203 of this title when this act takes effect or within one
(1)year thereafter; and
(3)becomes perfected:
(A)without further action, when this act takes effect if
the applicable requirements for perfection under this
act 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. Added by Laws 2000, c. 371, § 138, eff. July 1, 2001.