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

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.

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.