§ 12-A-302 — Security Interest Perfected Before Effective Date

* Section 12-A-302. Security Interest Perfected Before Effective Date.\n (a) Continuing perfection: perfection requirements satisfied. A\nsecurity interest that is enforceable and perfected immediately before\nthe effective date of the UCC Revision Act is a perfected security\ninterest under the revised UCC if, on the effective date of the UCC\nRevision Act, the requirements for enforceability and perfection under\nthe revised UCC are satisfied without further action.\n (b) Continuing perfection: enforceability or perfection requirements\nnot satisfied. If a security interest is enforceable and perfected\nimmediately before the effective date of the UCC Revision Act, but the\nrequirements for enforceability or perfection under the revised UCC are\nnot satisfied on the effective date of the UCC Revision Act, the\nsecurity interest:\n (1) is a perfected security interest until the earlier of the time\nperfection would have ceased under the law in effect immediately before\nthe effective date of the UCC Revision Act or the adjustment date;\n (2) remains enforceable thereafter only if the security interest\nsatisfies the requirements for enforceability under Section 9--203, as\namended by the UCC Revision Act; and\n (3) remains perfected thereafter only if the requirements for\nperfection under the revised UCC are satisfied before the time specified\nin paragraph (1).\n * NB Effective June 3, 2026\n