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 (1) year after July 1, 2001;
(2) Remains enforceable thereafter if the security interest becomes enforceable under KRS 355.9-203 on July 1, 2001, or within one (1) year thereafter; and (3) Becomes perfected:
(a) Without further action, on July 1, 2001, if the applicable requirements for perfection under the revision of Article 9 in 2000 Ky. Acts ch. 408 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.