Security interest unperfected before effective date.

  1. Law
  2. Colorado Revised Statutes
  3. Uniform Commercial Code
  4. Secured Transactions
  5. Security interest unperfected before effective date.

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A security interest that is enforceable immediately before July 1, 2001, but that 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 year after July 1, 2001;

  2. Remains enforceable after June 30, 2002, only if the security interest becomes enforceable under section 4-9-203 on or before June 30, 2002; and

  3. Becomes perfected:

  1. Without further action, on July 1, 2001, if the applicable requirements for perfectionunder this act are satisfied on or before July 1, 2001; or

  2. When the applicable requirements for perfection are satisfied if the requirements aresatisfied after July 1, 2001.

Source: L. 2001: Entire article R&RE, p. 1424, § 1, effective July 1.


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