Section 6A-11-302 - Security interest perfected before effective date(a) Continuing perfection: perfection requirements satisfied. A security interest that is enforceable and perfected immediately before January 1, 2024, is a perfected security interest under the amendatory act if, on January 1, 2024, the requirements for enforceability and perfection under the amendatory act are satisfied without further action.(b) Continuing perfection: enforceability or perfection requirements not satisfied. If a security interest is enforceable and perfected immediately before January 1, 2024, but the requirements for enforceability or perfection under the amendatory act are not satisfied on January 1, 2024, the security interest:(1) Is a perfected security interest until the earlier of the time perfection would have ceased under the law in effect immediately before January 1, 2024 or the adjustment date;(2) Remains enforceable thereafter only if the security interest satisfies the requirements for enforceability under § 6A-9-203, as amended by the amendatory act, before the adjustment date; and(3) Remains perfected thereafter only if the requirements for perfection under the amendatory act are satisfied before the time specified in subsection (b)(1) of this section.R.I. Gen. Laws § 6A-11-302
Added by 2024 Pub. Laws, ch. 65,§ 12, eff. 6/10/2024.Added by 2024 Pub. Laws, ch. 66,§ 12, eff. 6/10/2024.