§490:9-704 - Security interest unperfected before effective date. - Hawaii Statutes

     §490:9-704  Security interest unperfected before effective date.  A security interest that is enforceable immediately before this article takes effect 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 year after this article takes effect;

     (2)  Remains enforceable thereafter if the security interest becomes enforceable under section 490:9-203 when this article takes effect or within one year thereafter; and

     (3)  Becomes perfected:

         (A)  Without further action, when this article takes effect if the applicable requirements for perfection under this article 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. [L 2000, c 241, pt of §1]