Commercial Code - COM - COM § 17303

Summary

A security interest that is enforceable immediately before the effective date of the act adding this division but is unperfected at that time: (a) remains an enforceable security interest until the adjustment date; (b) remains enforceable thereafter if the security interest becom

Text

A security interest that is enforceable immediately before the effective date of the act adding this division but is unperfected at that time:
(a)
remains an enforceable security interest until the adjustment date;
(b)
remains enforceable thereafter if the security interest becomes enforceable under Section 9203, as amended by the act adding this division, on the effective date of the act adding this division or before the adjustment date; and
(c)
becomes perfected:
(1)
without further
action, on the effective date of the act adding this division if the requirements for perfection under the act adding this division are satisfied before or at that time; or
(2)
when the requirements for perfection are satisfied if the requirements are satisfied after that time.

Retrieval chunks

• #1 | Commercial Code - COM - COM § 17303

  A security interest that is enforceable immediately before the effective date of the act adding this division but is unperfected at that time: (a) remains an enforceable security interest until the adjustment date; (b) remains enforceable thereafter if the security interest becomes enforceable under Section 9203, …