24.48.100 Security Interest Perfected Before Effective Date

(a) A security interest that is a perfected security interest immediately before this Act takes effect is a perfected security interest under Chapters 24.42 through 24.48 as amended by Chapters 24.42 through 24.48 if, when Chapters 24.42 through 24.48 take effect, the applicable requirements for attachment and perfection under Chapters 24.42 through 24.48 as amended by Chapters 24.42 through 24.48 are satisfied without further action.

(b) Except as otherwise provided in Section 24.48.120, if, immediately before Chapters 24.42 through 24.48 take effect, a security interest is a perfected security interest, but the applicable requirements for perfection under Chapters 24.42 through 24.48 as amended by Chapters 24.42 through 24.48 are not satisfied when Chapters 24.42 through 24.48 take effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under Chapters 24.42 through 24.48 as amended by Chapters 24.42 through 24.48 are satisfied within one year after Chapters 24.42 through 24.48 take effect.