2011 Minnesota Statutes

336.9-804 SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.

A security interest that is an unperfected security interest immediately before Laws 2011, chapter 31, takes effect becomes a perfected security interest:

(1) without further action, when Laws 2011, chapter 31, takes effect if the applicable requirements for perfection under article 9 as amended by Laws 2011, chapter 31, 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.

History:

2011 c 31 art 1 s 16,19

NOTE: This section, as added by Laws 2011, chapter 31, article 1, section 19, is effective July 1, 2013. Laws 2011, chapter 31, article 1, section 16.