LegalFix
Sign In

Section 9-803 - Security Interest Perfected Before Effective Date

MA Gen L ch 9 § 9-803 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Section 9-803. (a) Continuing perfection: perfection requirements satisfied. A security interest that is a perfected security interest immediately before the effective date of the amendatory act is a perfected security interest under this Article if, on the effective date of the amendatory act, the applicable requirements for attachment and perfection under this Article as amended by the amendatory act are satisfied without further action.

(b) Continuing perfection: perfection requirements not satisfied. Except as otherwise provided in Section 9-805, if immediately before the effective date of the amendatory act, a security interest is a perfected security interest, but the applicable requirements for perfection under this Article as amended by the act are not satisfied on such effective date, the security interest remains perfected thereafter only if the applicable requirements for perfection under this Article as amended by the amendatory act are satisfied within 1 year after the effective date of the amendatory act.

Previous Section
Section 9-802 - Savings Clause
Next Section
Section 9-804 - Security Interest Unperfected Before Effective Date