California Commercial Code 9903 – A security interest that is a perfected security interest immediately …
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A security interest that is a perfected security interest immediately before January 1, 2015, is a perfected security interest under this division as amended by this act if, as of January 1, 2015, the applicable requirements for attachment and perfection under this division as of that date are satisfied without further action.
(Added by Stats. 2014, Ch. 284, Sec. 2. (AB 1858) Effective January 1, 2015.)
Terms Used In California Commercial Code 9903
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Security interest: includes any interest of a consignor and a buyer of accounts, chattel paper, a payment intangible, or a promissory note in a transaction that is subject to Division 9 (commencing with Section 9101). See California Commercial Code 1201