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D.C. Code § 28:9-704

Security interest unperfected before July 1, 2001

Known as the Uniform Commercial Code

The act spans §§ 28–28 (639 sections).

Oct. 26, 2000, D.C

A security interest that is enforceable immediately before July 1, 2001 but which would be subordinate to the rights of a person that becomes a lien creditor at that time:

(1) Remains an enforceable security interest for one year after July 1, 2001;

(2) Remains enforceable thereafter if the security interest becomes enforceable under § 28:9-203 on July 1, 2001 or within one year thereafter; and

(3) Becomes perfected:

(A) Without further action, on July 1, 2001 if the applicable requirements for perfection under this article are satisfied before or at that time; or

(B) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.