LegalFix
Sign In

§46-9-704. Security Interest Unperfected Before Effective Date

WV Code § 46-9-704 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

A security interest that is enforceable immediately before this article 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 two years after this article takes effect;

(2) Remains enforceable thereafter if the security interest becomes enforceable under section 9-203 when this article takes effect or within two years thereafter; and

(3) Becomes perfected:

(A) Without further action, when this article takes effect if the applicable requirements for perfection under this article 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.

Previous Section
§46-9-703. Security Interest Perfected Before Effective Date
Next Section
§46-9-705. Effectiveness of Action Taken Before Effective Date