Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 97 - Transition Provisions
Section 9704 - Security interest unperfected before effective date

§ 9704. Security interest unperfected before effective date. A security interest which is enforceable immediately before Revised Division 9 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 one year after Revised Division 9 takes effect.
(2) Remains enforceable thereafter if the security interest becomes enforceable under section 9203 of Revised Division 9 (relating to attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites) when Revised Division 9 takes effect or within one year thereafter.
(3) Becomes perfected:
(i) without further action when Revised Division 9 takes effect if the applicable requirements for perfection under Revised Division 9 are satisfied before or at that time; or
(ii) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
Cross References. Section 9704 is referred to in section 9702 of this title.

Structure Pennsylvania Consolidated & Unconsolidated Statutes