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Ala. Code § 7-12A-303

Security Interest Unperfected Before July 1, 2024.

Known as the Transitional Provisions for Uniform Commercial Code

The act spans §§ 7-12A-101 to 7-12A-306 (9 sections).

(Act 2023-492, §4.)

A security interest that is enforceable immediately before July 1, 2024 but is unperfected at that time:

(1) remains an enforceable security interest until the adjustment date;

(2) remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203, as amended by Act 2023-492, on July 1, 2024, or before the adjustment date; and

(3) becomes perfected:

(A) without further action, on July 1, 2024, if the requirements for perfection under Act 2023-492 are satisfied before or at that time; or

(B) when the requirements for perfection are satisfied if the requirements are satisfied after July 1, 2024.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.