North Dakota § 41-09-126 (9-704) Security interest unperfected before effective date

North Dakota Statutes

§ 41-09-126 — (9-704) Security interest unperfected before effective date

North Dakota § 41-09-126

Title 41Uniform Commercial Code

Ch. 41-09Secured Transactions

This text of North Dakota § 41-09-126 ((9-704) Security interest unperfected before effective date) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-09-126 (2026).

Text

A security interest that is enforceable immediately before July 1, 2001, 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 until July 1, 2002;

2.Remains enforceable thereafter if the security interest becomes enforceable under section 41-09-13 on July 1, 2001, or within one year thereafter; and

3.Becomes perfected:

a.Without further action, on July 1, 2001, if the applicable requirements for perfection under this chapter 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 July 1, 2001, 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 until July 1, 2002;
2. Remains enforceable thereafter if the security interest becomes enforceable under
section 41-09-13 on July 1, 2001, or within one year thereafter; and
3. Becomes perfected:
a. Without further action, on July 1, 2001, if the applicable requirements for
perfection under this chapter 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.