(1) A security interest that is enforceable and perfected immediately before October 1, 2025, is a perfected security interest under Chapter 200, Laws of 2025, if, on October 1, 2025, the requirements for enforceability and perfection under Chapter 200, Laws of 2025, are satisfied without further action.
(2) If a security interest is enforceable and perfected immediately before October 1, 2025, but the requirements for enforceability or perfection under Chapter 200, Laws of 2025, are not satisfied on October 1, 2025, the security interest:
(a) is a perfected security interest until the earlier of the time perfection would have ceased under the law in effect immediately before October 1, 2025, or the adjustment date;
(b) remains enforceable thereafter only if the security interest satisfies the requirements for enforceability under 30-9A-203, as amended by Chapter 200, Laws of 2025, before the adjustment date; and
(c) remains perfected thereafter only if the requirements for perfection under Chapter 200, Laws of 2025, are satisfied before the time specified in subsection (2)(a).