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9-704 - Security Interest Unperfected Before Effective Date

NY UCC § 9-704 (2019) (N/A)
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(a) remains an enforceable security interest for one year after Revised Article 9 takes effect;

(b) remains enforceable thereafter if the security interest becomes enforceable under Section 9--203 when Revised Article 9 takes effect or within one year thereafter; and

(c) becomes perfected:

(1) without further action, when Revised Article 9 takes effect if the applicable requirements for perfection under Revised Article 9 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.

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