§ 34.1-9-703 — Security interest perfected before effective date

Wyoming § 34.1-9-703

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 9: SECURED TRANSACTIONS

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 34.1-9-705,
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:
(i) Is a perfected security interest for one (1) year
after this act takes effect;
(ii) Remains enforceable thereafter only if the
security interest becomes enforceable under section 34.1-9-203
before the year expires; and
(iii) Remains perfected thereafter only if the
applicable requirements for perfection under this act are
satisfied before the year expires.