North Dakota Code 41-08-52 – (8-603) Savings clause
1. This chapter does not affect an action or proceeding commenced before August 1, 1997.
Terms Used In North Dakota Code 41-08-52
- Debtor: means a natural person whose name was provided in a financing statement record as an individual debtor or one of the types of persons listed in section 41-09-76. See North Dakota Code 41-10-01
2. If a security interest in a security is perfected by August 1, 1997, and the action by which the security interest was perfected would suffice to perfect a security interest under this chapter, no further action is required to continue perfection. If a security interest in a security is perfected by August 1, 1997, but the action by which the security interest was perfected would not suffice to perfect a security interest under this chapter, the security interest remains perfected for a period of six months after August 1, 1997, and continues perfected thereafter if appropriate action to perfect under this chapter is taken within that period. If a security interest is perfected by August 1, 1997, and the security interest can be perfected by filing under this chapter, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.