Security interest unperfected before effective date

  1. Law
  2. Mississippi Code
  3. Regulation of Trade, Commerce and Investments
  4. Uniform Commercial Code-Secured Transactions
  5. Transition
  6. Security interest unperfected before effective date

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A security interest that is enforceable immediately before January 1, 2002 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 January 1, 2002;
  2. Remains enforceable thereafter if the security interest becomes enforceable under Section 75-9-203 on January 1, 2002 or within one (1) year thereafter; and
  3. Becomes perfected:

Without further action, on January 1, 2002 if the applicable requirements for perfection under this act are satisfied before or at that time; or

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


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