70A-9a-802. Security interest perfected before effective date.
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70A-9a-802. Security interest perfected before effective date.
(1)A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this chapter as amended by Laws of Utah 2013, Chapter 225 if, when Laws of Utah 2013, Chapter 225 takes effect, the applicable requirements for attachment and perfection under this chapter as amended by Laws of Utah 2013, Chapter 225 are satisfied without further action.
(2)Except as otherwise provided in Section 70A-9a-804 , if immediately before July 1, 2013, a security interest is a perfected security interest, but the applicable requirements for perfection under this chapter as amended by Laws of Utah 2013, Chapter 225 are not satisfied when Laws of Utah 2013, Chapter 225 takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under this chapter as amended by Laws of Utah 2013, Chapter 225 are satisfied within one year after July 1, 2013.
Revisor instructions Chapter 225 , 2013 General Session
Enacted by Chapter 225 , 2013 General Session