Arizona Laws 47-9802. Security interest perfected before effective date
A. A security interest that is a perfected security interest immediately before the effective date of this section is a perfected security interest under this chapter, as amended in 2014, if, on the effective date of this section, the applicable requirements for attachment and perfection under this chapter, as amended in 2014, are satisfied without further action.
Terms Used In Arizona Laws 47-9802
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
B. Except as otherwise provided in section 47-9804, if, immediately before the effective date of this section, a security interest is a perfected security interest, but the applicable requirements for perfection under this chapter, as amended in 2014, are not satisfied on the effective date of this section, the security interest remains perfected thereafter only if the applicable requirements for perfection under this chapter, as amended in 2014, are satisfied within one year after the effective date of this section.