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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) If action, other than the filing of a financing statement, is taken before the effective date of the 2024 Act and the action would have resulted in perfection of the security interest had the security interest become enforceable before the effective date of the 2024 Act, the action is effective to perfect a security interest that attaches under the 2024 Act before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under the 2024 Act before the adjustment date.
(b) The filing of a financing statement before the effective date of the 2024 Act is effective to perfect a security interest on the effective date of the 2024 Act to the extent the filing would satisfy the requirements for perfection under the 2024 Act.
(c) The taking of an action before the effective date of the 2024 Act is sufficient for the enforceability of a security interest on the effective date of the 2024 Act if the action would satisfy the requirements for enforceability under the 2024 Act.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 28:12-205. Effectiveness of actions taken before effective date of the 2024 Act. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-28-12-205/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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