Alabama § 7-12A-303 Security Interest Unperfected Before July 1, 2024

Alabama Statutes

§ 7-12A-303 — Security Interest Unperfected Before July 1, 2024

Alabama § 7-12A-303

Title 7Commercial Code

Art. 12ATransitional Provisions for Uniform Commercial Code Amendments (2022)

Part 3Transitional Provisions for Articles 9A and 12

This text of Alabama § 7-12A-303 (Security Interest Unperfected Before July 1, 2024) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 7-12A-303 (2026).

Text

A security interest that is enforceable immediately before July 1, 2024 but is unperfected at that time:

(1)remains an enforceable security interest until the adjustment date;

(2)remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203, as amended by Act 2023-492, on July 1, 2024, or before the adjustment date; and

(3)becomes perfected:

(A)without further action, on July 1, 2024, if the requirements for perfection under Act 2023-492 are satisfied before or at that time; or

(B)when the requirements for perfection are satisfied if the requirements are satisfied after July 1, 2024.

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A security interest that is enforceable immediately before July 1, 2024 but is unperfected at that time:
(1) remains an enforceable security interest until the adjustment date;
(2) remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203, as amended by
Act 2023-492, on July 1, 2024, or before the adjustment date; and
(3) becomes perfected:
(A) without further action, on July 1, 2024, if the requirements for perfection under
Act 2023-492
are satisfied before or at that time; or
(B) when the requirements for perfection are satisfied if the requirements are satisfied after July 1, 2024.