Indiana § 26-1-9.1-704 Security interest unperfected before effective date

Indiana Statutes

§ 26-1-9.1-704 — Security interest unperfected before effective date

Indiana § 26-1-9.1-704

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-704 (Security interest unperfected before effective date) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-9.1-704 (2026).

Text

A security interest that is enforceable immediately before IC 26-1-9.1 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 IC 26-1-9.1 takes effect;

(2)remains enforceable thereafter if the security interest becomes enforceable under IC 26-1-9.1-203 when IC 26-1-9.1 takes effect or within one (1) year thereafter; and

(3)becomes perfected:

(A)without further action, when IC 26-1-9.1 takes effect if the applicable requirements for perfection under IC 26-1-9.1 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 IC 26-1-9.1 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
IC 26-1-9.1 takes effect;
(2) remains enforceable thereafter if the security interest becomes
enforceable under IC 26-1-9.1-203 when IC 26-1-9.1 takes effect
or within one (1) year thereafter; and
(3) becomes perfected:
(A) without further action, when IC 26-1-9.1 takes effect if the
applicable requirements for perfection under IC 26-1-9.1 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.