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4-9-803. Security interest perfected before effective date.

Arkansas Code — all titles (historical 2020) · legal_authorities

4-9-803. Security interest perfected before effective date.

4-9-803. 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 this chapter as amended by this act if, when this act takes effect, the applicable requirements for attachment and perfection under this chapter as amended by this act are satisfied without further action. (b) Except as otherwise provided in § 4-9-805, if, immediately before this act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under this chapter as amended by this act are not satisfied when this act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under this chapter as amended by this act are satisfied within one year after this act takes effect.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-803

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Stable record: arkansas_code:legal_authorities:4-9-803
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b815a8bae66af962efa2b22189949ac20ac59ac781e1af0e5059639229142a9b

Source location: content.xml paragraph 11822

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Arkansas Code — all titles (historical 2020) · legal_authorities

4-9-805. Effectiveness of action taken before effective date.

4-9-805. Effectiveness of action taken before effective date. (a) The filing of a financing statement before this act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this chapter as amended by this act. (b) This act does not render ineffective an effective financing statement that, before this act takes effect, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided under the jurisdiction's Article 9 to its Uniform Commercial Code before the jurisdiction's amendments contained in this act. However, except as otherwise provided in subsections (c) and (d) and § 4-9-806, the financing statement ceases to be effective: (1) if the financing statement is filed in this State, at the time the financing statement would have ceased to be effective had this act not taken effect; or (2) if the financing statement is filed in another jurisdiction, at the earlier of: (A) the time the financing statement would have ceased to be effective under the law of that jurisdiction; or (B) June 30, 2018. (c) The filing of a continuation statement after this act takes effect does not continue the effectiveness of a financing statement filed before this act takes effect. However, upon the timely filing of a continuation statement after this act takes effect and in accordance with the law of the jurisdiction governing perfection as provided in Article 9 as amended by this act, the effectiveness of a financing statement filed in the same office in that jurisdiction before this act takes effect continues for the period provided by the law of that jurisdiction. (d) Subdivision (b)(2)(B) applies to a financing stat

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-805

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-9-805. This identifies an authority to review, not proof of applicability.