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Louisiana Revised Statutes Tit. 10, § 13-302. Security interest perfected before effective date

Current as of January 01, 2023 | Updated by Findlaw Staff

(a) Continuing perfection: perfection requirements satisfied.A security interest that is enforceable and perfected immediately before August 1, 2024, is a perfected security interest under this Act if, on August 1, 2024, the requirements for enforceability and perfection under this Act are satisfied without further action.

(b) Continuing perfection: enforceability or perfection requirements not satisfied.If a security interest is enforceable and perfected immediately before August 1, 2024, but the requirements for enforceability or perfection under this Act are not satisfied on August 1, 2024, the security interest:

(1) is a perfected security interest until the earlier of the time perfection would have ceased under the law in effect immediately before August 1, 2024, or the adjustment date;

(2) remains enforceable thereafter only if the security interest satisfies the requirements for enforceability under R.S. 10:9-203, as amended by this Act, before the adjustment date; and

(3) remains perfected thereafter only if the requirements for perfection under this Act are satisfied before the time specified in Paragraph (1) of this Subsection.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 10, § 13-302. Security interest perfected before effective date - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-10-sect-13-302/

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