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§12A-1-9-704. Security interest unperfected before effective date.

12A OK Stat § 12A-1-9-704 (2019) (N/A)
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SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE

A security interest that is enforceable immediately before this act takes effect 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 this act takes effect;

(2) remains enforceable thereafter if the security interest becomes enforceable under Section 1-9-203 of this title when this act takes effect or within one (1) year thereafter; and

(3) becomes perfected:

(A)without further action, when this act takes effect if the applicable requirements for perfection under this act are satisfied before or at that time; or

(B)when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

Added by Laws 2000, c. 371, § 138, eff. July 1, 2001.

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