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84-9-704. Security interest unperfected before effective date. A security interest that is enforceable immediately before this act 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 act takes effect;

(2) remains enforceable thereafter if the security interest becomes enforceable under K.S.A. 2023 Supp. 84-9-203, and amendments thereto, when this act takes effect or within one year thereafter; and

(3) becomes perfected:

(A) Without further action, when this act takes effect if the applicable requirements for perfection under this act 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.

History: L. 2000, ch. 142, ยง 129; July 1, 2001.

Law Review and Bar Journal References:

"Revised Article 9 in Kansas," Hon. John K. Pearson, 51 K.L.R. 769, 837 (2003).


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