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District of Columbia Code Division V. Local Business Affairs § 28:9-704. Security interest unperfected before July 1, 2001.

Current as of January 01, 2024 | Updated by Findlaw Staff

A security interest that is enforceable immediately before July 1, 2001 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 July 1, 2001;

(2) Remains enforceable thereafter if the security interest becomes enforceable under § 28:9-203 on July 1, 2001 or within one year thereafter; and

(3) Becomes perfected:

(A) Without further action, on July 1, 2001 if the applicable requirements for perfection under this article are satisfied before or at that time; or

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

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 28:9-704. Security interest unperfected before July 1, 2001. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-28-9-704/

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