1.    If action, other than the filing of a financing statement, is taken before August 1, 2023, and the action would have resulted in perfection of the security interest had the security interest become enforceable before August 1, 2023, the action is effective to perfect a security interest that attaches under this Act before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under this Act before the adjustment date.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

2.    The filing of a financing statement before August 1, 2023, is effective to perfect a security interest on August 1, 2023, to the extent the filing would satisfy the requirements for perfection under this Act.

3.    The taking of an action before August 1, 2023, is sufficient for the enforceability of a security interest on August 1, 2023, if the action would satisfy the requirements for enforceability under this Act.