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Texas Business and Commerce Code - BUS & COM § 9.704. Security Interest Unperfected Before Effective Date

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

A security interest that is enforceable immediately before the revision takes effect but that would be subordinate to the rights of a person that becomes a lien creditor at that time:

(1) remains an enforceable security interest until July 1, 2002;

(2) remains enforceable after June 30, 2002, if the security interest becomes enforceable under Section 9.203, as revised, before July 1, 2002;  and

(3) becomes perfected:

(A) without further action, when the revision takes effect, if the applicable requirements for perfection under this chapter, as revised, are satisfied before or at that time;  or

(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after the revision takes effect.

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Cite this article: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 9.704. Security Interest Unperfected Before Effective Date - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-9-704/

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