A security interest that is enforceable immediately before this Article takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time: [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(1). Remains an enforceable security interest for one year after this Article takes effect;
(2). Remains enforceable thereafter if the security interest becomes enforceable under section 9‑1203 when this Article takes effect or within one year thereafter; and
(3). Becomes perfected:
(a). Without further action, when this Article takes effect if the applicable requirements for perfection under this Article are satisfied before or at that time; or [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.