SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.

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  6. SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.

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28-9-804. SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE. A security interest that is an unperfected security interest immediately before this act takes effect becomes a perfected security interest:

(1) Without further action, when this act takes effect if the applicable requirements for perfection under this chapter as amended by this act are satisfied before or at that time; or

(2) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

History:

[28-9-804, added 2012, ch. 145, sec. 20, p. 410.]


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