A security interest that is an unperfected security interest immediately before the amendatory act takes effect becomes a perfected security interest:

(1)  Without further action, when the amendatory act takes effect if the applicable requirements for perfection under this chapter as amended by the amendatory act are satisfied before or at that time; or

(2)  When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

History of Section.
P.L. 2011, ch. 173, § 3; P.L. 2011, ch. 192, § 3.