§ 8.9A-704 Security interest unperfected before effective date
A security interest that is enforceable immediately before this title takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:
1. remains an enforceable security interest for one year after this takes effect;
2. remains enforceable thereafter if the security interest becomes enforceable under § 8.9A-203 when this title takes effect or within one year thereafter; and
A. without further action, when this title takes effect if the applicable requirements for perfection under this title are satisfied before or at that time; or
B. when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
History
This law was first created in 2000. The record of its establishment is cataloged in chapter 1007 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2000, c. 1007.