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Section 554.9803 - Security interest perfected before effective date.

IA Code § 554.9803 (2019) (N/A)
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554.9803 Security interest perfected before effective date.

1. Continuing perfection: perfection requirements satisfied. A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this Article, as amended by 2012 Acts, ch. 1052, if on July 1, 2013, the applicable requirements for attachment and perfection under this Article, as amended by 2012 Acts, ch. 1052, are satisfied without further action.

2. Continuing perfection: perfection requirements not satisfied. Except as otherwise provided in section 554.9805, if immediately before July 1, 2013, a security interest is a perfected security interest, but the applicable requirements for perfection under this Article, as amended by 2012 Acts, ch. 1052, are not satisfied on July 1, 2013, the security interest remains perfected thereafter only if the applicable requirements for perfection under this Article, as amended by 2012 Acts, ch. 1052, are satisfied within one year after July 1, 2013.

2012 Acts, ch 1052, §26, 37; 2014 Acts, ch 1026, §143

For future repeal of this section effective July 1, 2019, see

2012 Acts, ch 1052, §35

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