N.Y. Uniform Commercial Code Law § 9-704
Security Interest Unperfected Before Effective Date
New York · New York Uniform Commercial Code Law · Status: effective · Effective 2014-09-22
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- Citation
- N.Y. Uniform Commercial Code Law § 9-704, Security Interest Unperfected Before Effective Date, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1134811
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Full text
Section 9--704. Security Interest Unperfected Before Effective Date.
A security interest that is enforceable immediately before Revised
Article 9 takes effect but which would be subordinate to the rights of a
person that becomes a lien creditor at that time:
(a) remains an enforceable security interest for one year after
Revised Article 9 takes effect;
(b) remains enforceable thereafter if the security interest becomes
enforceable under Section 9--203 when Revised Article 9 takes effect or
within one year thereafter; and
(c) becomes perfected:
(1) without further action, when Revised Article 9 takes effect
if the applicable requirements for perfection under Revised
Article 9 are satisfied before or at that time; or
(2) when the applicable requirements for perfection are satisfied
if the requirements are satisfied after that time.