§ 6A-9-803. Security interest perfected before effective date.
(a) Continuing perfection: perfection requirements satisfied. A security interest that is a perfected security interest immediately before the amendatory act takes effect is a perfected security interest under this chapter as amended by the amendatory act if, when the amendatory act takes effect, the applicable requirements for attachment and perfection under this chapter, as amended by the amendatory act, are satisfied without further action.
(b) Continuing perfection: perfection requirements not satisfied. Except as otherwise provided in § 6A-9-805, if, immediately before the amendatory act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under this chapter, as amended by the amendatory act, are not satisfied when the amendatory act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under this chapter as amended by the amendatory act are satisfied within one year after the amendatory act takes effect.
History of Section.
P.L. 2011, ch. 173, § 3; P.L. 2011, ch. 192, § 3.