§ 10:13-302 — Security interest perfected before effective date

§13-302. Security interest perfected before effective date
(a) Continuing perfection: perfection requirements satisfied. A security interest that
is enforceable and perfected immediately before August 1, 2024, is a perfected security
interest under this Act if, on August 1, 2024, the requirements for enforceability and
perfection under this Act are satisfied without further action.
(b) Continuing perfection: enforceability or perfection requirements not satisfied.
If a security interest is enforceable and perfected immediately before August 1, 2024, but the
requirements for enforceability or perfection under this Act are not satisfied on August 1,
2024, the security interest:
(1) is a perfected security interest until the earlier of the time perfection would have
ceased under the law in effect immediately before August 1, 2024, or the adjustment date;
(2) remains enforceable thereafter only if the security interest satisfies the
requirements for enforceability under R.S. 10:9-203, as amended by this Act, before the
adjustment date; and
(3) remains perfected thereafter only if the requirements for perfection under this Act
are satisfied before the time specified in Paragraph (1) of this Subsection.

Legislative History

Acts 2024, No. 773, §1.