North Dakota § 41-11-06 (A-303) Security interest unperfected before effective date

North Dakota Statutes

§ 41-11-06 — (A-303) Security interest unperfected before effective date

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-11 Transitional Provisions for Uniform Commercial Code Amendments (2022)

A security interest that is enforceable immediately before August 1, 2023, 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 41-09-13, as amended by this Act, on August 1, 2023, or before the adjustment date; and

3.Becomes perfected:

a.Without further action, on August 1, 2023, if the requirements for perfection under this Act are satisfied before or at that time; or

b.When the 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 August 1, 2023, 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 41-09-13, as amended by this Act, on August 1, 2023, or before the adjustment
date; and
3. Becomes perfected:
a. Without further action, on August 1, 2023, if the requirements for perfection under
this Act are satisfied before or at that time; or
b. When the requirements for perfection are satisfied if the requirements are
satisfied after that time.

North Dakota § 41-11-06 ((A-303) Security interest unperfected before effective date) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.