§ 6A-9-316 Continued perfection ofsecurity interest following change in governing law. – (a) General rule: effect on perfection of change in governing law. Asecurity interest perfected pursuant to the law of the jurisdiction designatedin § 6A-9-301(1) or 6A-9-305(c) remains perfected until the earliest of:
(1) The time perfection would have ceased under the law ofthat jurisdiction;
(2) The expiration of four months after a change of thedebtor's location to another jurisdiction; or
(3) The expiration of one year after a transfer of collateralto a person that thereby becomes a debtor and is located in anotherjurisdiction.
(b) Security interest perfected or unperfected under lawof new jurisdiction. If a security interest described in subsection (a)becomes perfected under the law of the other jurisdiction before the earliesttime or event described in that subsection, it remains perfected thereafter. Ifthe security interest does not become perfected under the law of the otherjurisdiction before the earliest time or event, it becomes unperfected and isdeemed never to have been perfected as against a purchaser of the collateralfor value.
(c) Possessory security interest in collateral moved tonew jurisdiction. A possessory security interest in collateral, other thangoods covered by a certificate of title and as-extracted collateral consistingof goods, remains continuously perfected if:
(1) The collateral is located in one jurisdiction and subjectto a security interest perfected under the law of that jurisdiction;
(2) Thereafter the collateral is brought into anotherjurisdiction; and
(3) Upon entry into the other jurisdiction, the securityinterest is perfected under the law of the other jurisdiction.
(d) Goods covered by certificate of title from thisstate. Except as otherwise provided in subsection (e), a security interestin goods covered by a certificate of title which is perfected by any methodunder the law of another jurisdiction when the goods become covered by acertificate of title from this State remains perfected until the securityinterest would have become unperfected under the law of the other jurisdictionhad the goods not become so covered.
(e) When subsection (d) security interest becomesunperfected against purchasers. A security interest described in subsection(d) becomes unperfected as against a purchaser of the goods for value and isdeemed never to have been perfected as against a purchaser of the goods forvalue if the applicable requirements for perfection under § 6A-9-311(b) or6A-9-313 are not satisfied before the earlier of:
(1) The time the security interest would have becomeunperfected under the law of the other jurisdiction had the goods not becomecovered by a certificate of title from this State; or
(2) The expiration of four months after the goods had becomeso covered.
(f) Change in jurisdiction of bank, issuer, nominatedperson, securities intermediary, or commodity intermediary. A securityinterest in deposit accounts, letter-of-credit rights, or investment propertywhich is perfected under the law of the bank's jurisdiction, the issuer'sjurisdiction, a nominated person's jurisdiction, the securities intermediary'sjurisdiction, or the commodity intermediary's jurisdiction, as applicable,remains perfected until the earlier of:
(1) The time the security interest would have becomeunperfected under the law of that jurisdiction; or
(2) The expiration of four months after a change of theapplicable jurisdiction to another jurisdiction.
(g) Subsection (f) security interest perfected orunperfected under law of new jurisdiction. If a security interest describedin subsection (f) becomes perfected under the law of the other jurisdictionbefore the earlier of the time or the end of the period described in thatsubsection, it remains perfected thereafter. If the security interest does notbecome perfected under the law of the other jurisdiction before the earlier ofthat time or the end of that period, it becomes unperfected and is deemed neverto have been perfected as against a purchaser of the collateral for value.
§ 6A-9-316 Continued perfection ofsecurity interest following change in governing law. – (a) General rule: effect on perfection of change in governing law. Asecurity interest perfected pursuant to the law of the jurisdiction designatedin § 6A-9-301(1) or 6A-9-305(c) remains perfected until the earliest of:
(1) The time perfection would have ceased under the law ofthat jurisdiction;
(2) The expiration of four months after a change of thedebtor's location to another jurisdiction; or
(3) The expiration of one year after a transfer of collateralto a person that thereby becomes a debtor and is located in anotherjurisdiction.
(b) Security interest perfected or unperfected under lawof new jurisdiction. If a security interest described in subsection (a)becomes perfected under the law of the other jurisdiction before the earliesttime or event described in that subsection, it remains perfected thereafter. Ifthe security interest does not become perfected under the law of the otherjurisdiction before the earliest time or event, it becomes unperfected and isdeemed never to have been perfected as against a purchaser of the collateralfor value.
(c) Possessory security interest in collateral moved tonew jurisdiction. A possessory security interest in collateral, other thangoods covered by a certificate of title and as-extracted collateral consistingof goods, remains continuously perfected if:
(1) The collateral is located in one jurisdiction and subjectto a security interest perfected under the law of that jurisdiction;
(2) Thereafter the collateral is brought into anotherjurisdiction; and
(3) Upon entry into the other jurisdiction, the securityinterest is perfected under the law of the other jurisdiction.
(d) Goods covered by certificate of title from thisstate. Except as otherwise provided in subsection (e), a security interestin goods covered by a certificate of title which is perfected by any methodunder the law of another jurisdiction when the goods become covered by acertificate of title from this State remains perfected until the securityinterest would have become unperfected under the law of the other jurisdictionhad the goods not become so covered.
(e) When subsection (d) security interest becomesunperfected against purchasers. A security interest described in subsection(d) becomes unperfected as against a purchaser of the goods for value and isdeemed never to have been perfected as against a purchaser of the goods forvalue if the applicable requirements for perfection under § 6A-9-311(b) or6A-9-313 are not satisfied before the earlier of:
(1) The time the security interest would have becomeunperfected under the law of the other jurisdiction had the goods not becomecovered by a certificate of title from this State; or
(2) The expiration of four months after the goods had becomeso covered.
(f) Change in jurisdiction of bank, issuer, nominatedperson, securities intermediary, or commodity intermediary. A securityinterest in deposit accounts, letter-of-credit rights, or investment propertywhich is perfected under the law of the bank's jurisdiction, the issuer'sjurisdiction, a nominated person's jurisdiction, the securities intermediary'sjurisdiction, or the commodity intermediary's jurisdiction, as applicable,remains perfected until the earlier of:
(1) The time the security interest would have becomeunperfected under the law of that jurisdiction; or
(2) The expiration of four months after a change of theapplicable jurisdiction to another jurisdiction.
(g) Subsection (f) security interest perfected orunperfected under law of new jurisdiction. If a security interest describedin subsection (f) becomes perfected under the law of the other jurisdictionbefore the earlier of the time or the end of the period described in thatsubsection, it remains perfected thereafter. If the security interest does notbecome perfected under the law of the other jurisdiction before the earlier ofthat time or the end of that period, it becomes unperfected and is deemed neverto have been perfected as against a purchaser of the collateral for value.
§ 6A-9-316 Continued perfection ofsecurity interest following change in governing law. – (a) General rule: effect on perfection of change in governing law. Asecurity interest perfected pursuant to the law of the jurisdiction designatedin § 6A-9-301(1) or 6A-9-305(c) remains perfected until the earliest of:
(1) The time perfection would have ceased under the law ofthat jurisdiction;
(2) The expiration of four months after a change of thedebtor's location to another jurisdiction; or
(3) The expiration of one year after a transfer of collateralto a person that thereby becomes a debtor and is located in anotherjurisdiction.
(b) Security interest perfected or unperfected under lawof new jurisdiction. If a security interest described in subsection (a)becomes perfected under the law of the other jurisdiction before the earliesttime or event described in that subsection, it remains perfected thereafter. Ifthe security interest does not become perfected under the law of the otherjurisdiction before the earliest time or event, it becomes unperfected and isdeemed never to have been perfected as against a purchaser of the collateralfor value.
(c) Possessory security interest in collateral moved tonew jurisdiction. A possessory security interest in collateral, other thangoods covered by a certificate of title and as-extracted collateral consistingof goods, remains continuously perfected if:
(1) The collateral is located in one jurisdiction and subjectto a security interest perfected under the law of that jurisdiction;
(2) Thereafter the collateral is brought into anotherjurisdiction; and
(3) Upon entry into the other jurisdiction, the securityinterest is perfected under the law of the other jurisdiction.
(d) Goods covered by certificate of title from thisstate. Except as otherwise provided in subsection (e), a security interestin goods covered by a certificate of title which is perfected by any methodunder the law of another jurisdiction when the goods become covered by acertificate of title from this State remains perfected until the securityinterest would have become unperfected under the law of the other jurisdictionhad the goods not become so covered.
(e) When subsection (d) security interest becomesunperfected against purchasers. A security interest described in subsection(d) becomes unperfected as against a purchaser of the goods for value and isdeemed never to have been perfected as against a purchaser of the goods forvalue if the applicable requirements for perfection under § 6A-9-311(b) or6A-9-313 are not satisfied before the earlier of:
(1) The time the security interest would have becomeunperfected under the law of the other jurisdiction had the goods not becomecovered by a certificate of title from this State; or
(2) The expiration of four months after the goods had becomeso covered.
(f) Change in jurisdiction of bank, issuer, nominatedperson, securities intermediary, or commodity intermediary. A securityinterest in deposit accounts, letter-of-credit rights, or investment propertywhich is perfected under the law of the bank's jurisdiction, the issuer'sjurisdiction, a nominated person's jurisdiction, the securities intermediary'sjurisdiction, or the commodity intermediary's jurisdiction, as applicable,remains perfected until the earlier of:
(1) The time the security interest would have becomeunperfected under the law of that jurisdiction; or
(2) The expiration of four months after a change of theapplicable jurisdiction to another jurisdiction.
(g) Subsection (f) security interest perfected orunperfected under law of new jurisdiction. If a security interest describedin subsection (f) becomes perfected under the law of the other jurisdictionbefore the earlier of the time or the end of the period described in thatsubsection, it remains perfected thereafter. If the security interest does notbecome perfected under the law of the other jurisdiction before the earlier ofthat time or the end of that period, it becomes unperfected and is deemed neverto have been perfected as against a purchaser of the collateral for value.
