Washington Code 62A.9A-704 – Security interest unperfected before effective date
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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:
Terms Used In Washington Code 62A.9A-704
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(1) Remains an enforceable security interest for one year after July 1, 2001;
(2) Remains enforceable thereafter if the security interest becomes enforceable under RCW 62A.9A-203 on or before 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 Article 62A.9A RCW 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.
[ 2001 c 32 § 48; 2000 c 250 § 9A-704.]
NOTES:
Effective date—2001 c 32: See note following RCW 62A.9A-102.