2018 Minnesota Statutes
Chapters 324 - 341 — TRADE REGULATIONS, CONSUMER PROTECTION
Chapter 336 — UNIFORM COMMERCIAL CODE
Section 336.9-704 — SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.
A security interest that is enforceable immediately before Laws 2000, chapter 399, takes effect 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 Laws 2000, chapter 399, takes effect;
(2) remains enforceable thereafter if the security interest becomes enforceable under section 336.9-203 when Laws 2000, chapter 399, takes effect or within one year thereafter; and
(3) becomes perfected:
(A) without further action, when Laws 2000, chapter 399, takes effect if the applicable requirements for perfection under Laws 2000, chapter 399, 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.
History: 2000 c 399 art 1 s 133
