Michigan Laws 440.9804 – Unperfected security interest before effective date of amendatory act
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Terms Used In Michigan Laws 440.9804
- Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201
- This amendatory act: means the amendatory act that added this part. See Michigan Laws 440.9801
- This amended article: means this article as amended by this amendatory act. See Michigan Laws 440.9801
A security interest that is an unperfected security interest immediately before the effective date of this amendatory act becomes a perfected security interest when either of the following occurs:
(a) Without further action, on the effective date of this amendatory act if the applicable requirements for perfection under this amended article are satisfied before or at that time.
(b) When the applicable requirements for perfection are satisfied if the requirements are satisfied after the effective date of this amendatory act.