Alabama § 7-9A-704 Security Interest Unperfected Before January 1, 2002

Alabama Statutes

§ 7-9A-704 — Security Interest Unperfected Before January 1, 2002

Alabama § 7-9A-704

Title 7Commercial Code

Art. 9ASecured Transactions

Part 7Transition

This text of Alabama § 7-9A-704 (Security Interest Unperfected Before January 1, 2002) 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 § 7-9A-704 (2026).

Text

A security interest that is enforceable immediately before January 1, 2002, 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 year after January 1, 2002;

(2)remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203 on January 1, 2002, or within one year thereafter; and

(3)becomes perfected:

(A)without further action, on January 1, 2002, 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.

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A security interest that is enforceable immediately before January 1, 2002, 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 year after January 1, 2002;
(2) remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203 on January 1, 2002, or within one year thereafter; and
(3) becomes perfected:
(A) without further action, on January 1, 2002, 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.