A security interest that is enforceable immediately before July 1, 2024 but is unperfected at that time: (1) remains an enforceable security interest until the adjustment date; (2) remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203, as amended by Act 2023-492, on July 1, 2024, or before the adjustment date; and (3) becomes perfected: (A) without further action, on July 1, 2024, if the requirements for perfection under Act 2023-492 are satisfied before or at that time; or
(B) when the requirements for perfection are satisfied if the requirements are satisfied after July 1, 2024.
History: (Act 2023-492, §4.)