(1) A security interest that is enforceable immediately before January 1, 2002 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 January 1, 2002;(2) Remains enforceable thereafter if the security interest becomes enforceable under Section 75-9-203 on January 1, 2002 or within one (1) year thereafter; and(3) Becomes perfected:(A) Without further action, on January 1, 2002 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.
(1) Remains an enforceable security interest for one (1) year after January 1, 2002;
(2) Remains enforceable thereafter if the security interest becomes enforceable under Section 75-9-203 on January 1, 2002 or within one (1) year thereafter; and
(3) Becomes perfected:(A) Without further action, on January 1, 2002 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.
(A) Without further action, on January 1, 2002 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.