§ 46-9-704 — Security interest unperfected before effective date

West Virginia § 46-9-704

• Jurisdiction: West Virginia
• Ch. 46: UNIFORM COMMERCIAL CODE
• Art. 9: SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

Text

A security interest that is enforceable immediately before this article takes effect 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 for two years after this article takes effect;

(2) Remains enforceable thereafter if the security interest becomes enforceable under section 9-203 when this article takes effect or within two years thereafter; and

(3) Becomes perfected:

(A) Without further action, when this article takes effect if the applicable requirements for perfection under this article 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.

Legislative History

2000 Reg. Sess., SB469