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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

009

:
Secured Transactions











 

§

9-803. Security interest perfected before effective date

(a) A security

interest that is a perfected security interest immediately before the Act takes

effect is a perfected security interest under article 9 of this title, as

amended by the Act if, when the Act takes effect, the applicable requirements

for attachment and perfection under article 9 of this title, as amended by the

Act, are satisfied without further action.

(b) Except as

otherwise provided in section 9-805 of this title, if, immediately before the

Act takes effect, a security interest is a perfected security interest, but the

applicable requirements for perfection under article 9 of this title, as

amended by the Act, are not satisfied when the Act takes effect, the security

interest remains perfected thereafter only if the applicable requirements for

perfection under article 9 of this title, as amended by the Act, are satisfied

within one year after the Act takes effect. (Added 2013, No. 157 (Adj. Sess.), §

1.)