Section 12A:9-704 - Security interest unperfected before effective dateA security interest that is enforceable immediately before this chapter takes effect 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 this chapter takes effect;(2) remains enforceable thereafter if the security interest becomes enforceable under 12A:9-203 when this chapter takes effect or within one year thereafter; and(3) becomes perfected: (A) without further action, when this chapter takes effect if the applicable requirements for perfection under this chapter 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.Enacted c. 117, s. 1, eff. 6/26/2001, op. 7/1/2001; amended c. 386, s. 121, eff. 1/8/2002. P.L. 2001, c. 386, s. 127 provides: "This act, P.L. 2001, c. 386, amends and supplements P.L. 2001, c. 117 and shall take effect immediately and shall be applied retroactively to July 1, 2001."