Legislation

* Section 12-A-302. Security Interest Perfected Before Effective Date.

(a) Continuing perfection: perfection requirements satisfied. A
security interest that is enforceable and perfected immediately before
the effective date of the UCC Revision Act is a perfected security
interest under the revised UCC if, on the effective date of the UCC
Revision Act, the requirements for enforceability and perfection under
the revised UCC are satisfied without further action.

(b) Continuing perfection: enforceability or perfection requirements
not satisfied. If a security interest is enforceable and perfected
immediately before the effective date of the UCC Revision Act, but the
requirements for enforceability or perfection under the revised UCC are
not satisfied on the effective date of the UCC Revision Act, the
security interest:

(1) is a perfected security interest until the earlier of the time
perfection would have ceased under the law in effect immediately before
the effective date of the UCC Revision Act or the adjustment date;

(2) remains enforceable thereafter only if the security interest
satisfies the requirements for enforceability under Section 9--203, as
amended by the UCC Revision Act; and

(3) remains perfected thereafter only if the requirements for
perfection under the revised UCC are satisfied before the time specified
in paragraph (1).

* NB Effective June 3, 2026