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;

Terms Used In Hawaii Revised Statutes 490:9-704

  • Lien: A claim against real or personal property in satisfaction of a debt.
(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.
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