Statute · New York Uniform Commercial Code

N.Y. U.C.C. Law § 9-704 — Security Interest Unperfected Before Effective Date

N.Y. U.C.C. Law § 9-704

Type: Statute
Source: New York Uniform Commercial Code
Jurisdiction: New York
Current through: Nov 5, 2026 (NY Senate Open Legislation)

Section 9--704. Security Interest Unperfected Before Effective Date.

Citator

N.Y. U.C.C. Law § 9-704 — Security Interest Unperfected Before Effective Date is in force in the current edition of the Code, and nothing recorded condemns it.

Section 9--704. Security Interest Unperfected Before Effective Date.

A security interest that is enforceable immediately before Revised Article 9 takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:

(a) remains an enforceable security interest for one year after Revised Article 9 takes effect;

(b) remains enforceable thereafter if the security interest becomes enforceable under Section 9--203 when Revised Article 9 takes effect or within one year thereafter; and

(1) without further action, when Revised Article 9 takes effect

if the applicable requirements for perfection under Revised

Article 9 are satisfied before or at that time; or

(2) when the applicable requirements for perfection are satisfied

if the requirements are satisfied after that time.