(a)Continuing perfection: perfection requirements satisfied. A security interest that is a perfected security interest immediately before this act takes effect is a perfected security interest under Article 9 as amended by this act if, when this act takes effect, the applicable requirements for attachment and perfection under Article 9 as amended by this act are satisfied without further action.
(b)Continuing perfection: perfection requirements not satisfied. Except as otherwise provided in Section 9-805, if, immediately before this act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under Article 9 as amended by this act are not satisfied when this act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under Article 9 as amended by this act are satisfied within one year after this act takes effect.