A security interest that is enforceable immediately before July 1, 2001 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 July 1, 2001;

(2)  remains enforceable thereafter if the security interest becomes enforceable under La. Rev. Stat. 10:9-203 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.

Acts 2001, No. 128, §1, eff. July 1, 2001.