N.D. Cent. Code § 41-11-06

Current through 2024 Legislative Session

Section 41-11-06 - (A-303) Security interest unperfected before effective date

A security interest that is enforceable immediately before August 1, 2023, but is unperfected at that time:

1. Remains an enforceable security interest until the adjustment date;

2. Remains enforceable thereafter if the security interest becomes enforceable under section 41-09-13, as amended by this Act, on August 1, 2023, or before the adjustment date; and

3. Becomes perfected:

a. Without further action, on August 1, 2023, if the requirements for perfection under this Act are satisfied before or at that time; or

b. When the requirements for perfection are satisfied if the requirements are satisfied after that time.

N.D.C.C. § 41-11-06

Added by S.L. 2023 , ch. 371( HB 1082 ), § 88, eff. 8/1/2023.