Legislation

* Section 12-A-303. Security Interest Unperfected Before Effective Date.

A security interest that is enforceable immediately before the
effective date of the UCC Revision Act but is unperfected at that time:

(1) remains an enforceable security interest until the adjustment
date;

(2) remains enforceable thereafter if the security interest becomes
enforceable under Section 9--203, as amended by the UCC Revision Act, on
the effective date of the UCC Revision Act or before the adjustment
date; and

(3) becomes perfected:

(A) without further action, on the effective date of the UCC Revision
Act if the requirements for perfection under the revised UCC are
satisfied before or at that time; or

(B) when the requirements for perfection are satisfied if the
requirements are satisfied after that time.

* NB Effective June 3, 2026