Security interest unperfected before effective date

28-9-704. Security interest unperfected before effective date. A security interest that is enforceable immediately before this act 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 (1) year after this act takes effect; (2) Remains enforceable thereafter if the security interest becomes enforceable under section 28-9-203 when this act takes effect or within one (1) year thereafter; and (3) Becomes perfected: (A) Without further action, when this act takes effect if the applicable requirements for perfection under this act 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.