§ 6A-9-704. Security interest unperfected before effective date.
A security interest that is enforceable immediately before this chapter 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 this chapter takes effect;
(2) Remains enforceable thereafter if the security interest becomes enforceable under § 6A-9-203 when this chapter takes effect or within one year thereafter; and
(3) Becomes perfected:
(i) Without further action, when this chapter takes effect if the applicable requirements for perfection under this chapter 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.
History of Section.P.L. 2000, ch. 182, § 6; P.L. 2000, ch. 420, § 6.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-9 - Secured Transactions
Section 6A-9-701. - Effective date.
Section 6A-9-702. - Savings clause.
Section 6A-9-703. - Security interest perfected before effective date.
Section 6A-9-704. - Security interest unperfected before effective date.
Section 6A-9-705. - Effectiveness of action taken before effective date.
Section 6A-9-707. - Amendment of pre-effective-date financing statement.
Section 6A-9-708. - Persons entitled to file initial financing statement or continuation statement.
Section 6A-9-710. - Official comments.
Section 6A-9-801. - Effective date.
Section 6A-9-802. - Savings clause.
Section 6A-9-803. - Security interest perfected before effective date.
Section 6A-9-804. - Security interest unperfected before effective date.
Section 6A-9-805. - Effectiveness of action taken before effective date.
Section 6A-9-807. - Amendment of pre-effective-date financing statement.
Section 6A-9-808. - Person entitled to file initial financing statement or continuation statement.