§ 6A-9-704 - Security interest unperfected before effective date. - Rhode-island Statutes

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-9 > 6a-9-704

SECTION 6A-9-704

§ 6A-9-704 Security interest unperfectedbefore effective date. – A security interest that is enforceable immediately before this chapter takeseffect but which would be subordinate to the rights of a person that becomes alien creditor at that time:

(1) Remains an enforceable security interest for one yearafter this chapter takes effect;

(2) Remains enforceable thereafter if the security interestbecomes enforceable under § 6A-9-203 when this chapter takes effect orwithin one year thereafter; and

(3) Becomes perfected:

(i) Without further action, when this chapter takes effect ifthe applicable requirements for perfection under this chapter are satisfiedbefore or at that time; or

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

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-9 > 6a-9-704

SECTION 6A-9-704

§ 6A-9-704 Security interest unperfectedbefore effective date. – A security interest that is enforceable immediately before this chapter takeseffect but which would be subordinate to the rights of a person that becomes alien creditor at that time:

(1) Remains an enforceable security interest for one yearafter this chapter takes effect;

(2) Remains enforceable thereafter if the security interestbecomes enforceable under § 6A-9-203 when this chapter takes effect orwithin one year thereafter; and

(3) Becomes perfected:

(i) Without further action, when this chapter takes effect ifthe applicable requirements for perfection under this chapter are satisfiedbefore or at that time; or

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

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-9 > 6a-9-704

SECTION 6A-9-704

§ 6A-9-704 Security interest unperfectedbefore effective date. – A security interest that is enforceable immediately before this chapter takeseffect but which would be subordinate to the rights of a person that becomes alien creditor at that time:

(1) Remains an enforceable security interest for one yearafter this chapter takes effect;

(2) Remains enforceable thereafter if the security interestbecomes enforceable under § 6A-9-203 when this chapter takes effect orwithin one year thereafter; and

(3) Becomes perfected:

(i) Without further action, when this chapter takes effect ifthe applicable requirements for perfection under this chapter are satisfiedbefore or at that time; or

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