47-9704 - Arizona Statutes

47-9704. Security interest unperfected before effective date A security interest that is enforceable immediately before July 1, 2001 but that 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 year after July 1, 2001; 2. Remains enforceable thereafter if the security interest becomes enforceable under section 47-9203 on July 1, 2001 or within one year thereafter; and 3. Becomes perfected: (a) Without further action, on July 1, 2001 if the applicable requirements for perfection under this chapter 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.