(1) Except as provided in subsection (2), a document is effective:
(a) at the time of filing on the date it is filed, as evidenced by the secretary of state's endorsement on the original document; or
(b) at the time specified in the document as its effective time on the date it is filed.
(2) A document may specify a delayed effective time and date, and if it does so the document becomes effective at the time and date specified. If a delayed effective date but no time is specified, the document is effective at the close of business on that date. A delayed effective date for a document may not be later than 90 days after the date it is filed.