South Carolina § 36-9-703 Security interest perfected before effective date.

South Carolina Statutes

§ 36-9-703 — Security interest perfected before effective date.

South Carolina § 36-9-703

Title 36COMMERCIAL CODE

Ch. 9COMMERCIAL CODE—SECURED TRANSACTIONS

This text of South Carolina § 36-9-703 (Security interest perfected before effective date.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 36-9-703 (2026).

Text

(a)A security interest that is enforceable immediately before this act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, when this act takes effect, the applicable requirements for enforceability and perfection under this act are satisfied without further action.

(b)Except as otherwise provided in Section 36-9-705, if, immediately before this act takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this act are not satisfied when this act takes effect, the security interest:

(1)is a perfected security interest for one ye

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(a) A security interest that is enforceable immediately before this act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, when this act takes effect, the applicable requirements for enforceability and perfection under this act are satisfied without further action. (b) Except as otherwise provided in Section 36-9-705, if, immediately before this act takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this act are not satisfied when this act takes effect, the security interest: (1) is a perfected security interest for one year after this act takes effect; (2) remains enforceable thereafter only if the security interest becomes enforceable under Section 36-9-203 before the year expires; and (3) remains perfected thereafter only if the applicable requirements for perfection under this act are satisfied before the year expires.