interest unperfected before effective date

A security interest that is an unperfected security interest immediately before July 1, 2013 becomes a perfected security interest: (1) Without further action, on July 1, 2013 if the applicable requirements for perfection under chapter- 57A-9 as amended by SL 2012, ch 238 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. Source: SL 2012, ch 238, § 9-804, eff. July 1, 2013.