North Dakota § 41-11-07 (A-304) Effectiveness of actions taken before effective date

North Dakota Statutes

§ 41-11-07 — (A-304) Effectiveness of actions taken before effective date

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

1.If action, other than the filing of a financing statement, is taken before August 1, 2023, and the action would have resulted in perfection of the security interest had the security interest become enforceable before August 1, 2023, the action is effective to perfect a security interest that attaches under this Act before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under this Act before the adjustment date.

2.The filing of a financing statement before August 1, 2023, is effective to perfect a security interest on August 1, 2023, to the extent the filing would satisfy the requirements for perfection under this Act.

3.The taking of an action before August 1, 2023, is suff

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1. If action, other than the filing of a financing statement, is taken before August 1, 2023,
and the action would have resulted in perfection of the security interest had the
security interest become enforceable before August 1, 2023, the action is effective to
perfect a security interest that attaches under this Act before the adjustment date. An
attached security interest becomes unperfected on the adjustment date unless the
security interest becomes a perfected security interest under this Act before the
adjustment date.
2. The filing of a financing statement before August 1, 2023, is effective to perfect a
security interest on August 1, 2023, to the extent the filing would satisfy the
requirements for perfection under this Act.
3. The taking of an action before August 1, 2023, is sufficient for the enforceability of a
security interest on August 1, 2023, if the action would satisfy the requirements for
enforceability under this Act.

North Dakota § 41-11-07 ((A-304) Effectiveness of actions taken before effective date) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.