Del. Code tit. 6 § A-302

Current through 2024 Legislative Session Act Chapter 531
Section A-302 - Security interest perfected before effective date
(a) Continuing perfection: perfection requirements satisfied.- A security interest that is enforceable and perfected immediately before [the effective date of this Act] is a perfected security interest under the amending Act if, on [the effective date of this Act], the requirements for enforceability and perfection under the amending 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 [the effective date of this Act], but the requirements for enforceability or perfection under this [act] are not satisfied on [the effective date of this Act], 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 [the effective date of this Act] or the adjustment date;
(2) remains enforceable thereafter only if the security interest satisfies the requirements for enforceability under Section 9-203, as amended by the amending Act, before the adjustment date; and
(3) remains perfected thereafter only if the requirements for perfection under the amending Act are satisfied before the time specified in paragraph (1).

6 Del. C. § A-302

Added by Laws 2023 , ch. 174, s 90, eff. 8/18/2023.