California · Commercial Code

COM §17304: (a) If action, other than the filing of a financing statement, is taken before the effective date of the act adding this division and the action would have resulted in perfection of the security inter

What this law says, in plain English

This statute addresses the timing of actions taken to perfect a security interest before the effective date of a new law, dealing with secured transaction procedures.

Read the full statutory text

(a) If action, other than the filing of a financing statement, is taken before the effective date of the act adding this division and the action would have resulted in perfection of the security interest had the security interest become enforceable before the effective date of the act adding this division, the action is effective to perfect a security interest that attaches under the act adding this division before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under the act adding this division before the adjustment date. (b) The filing of a financing statement before the effective date of the act adding this division is effective to perfect a security interest on the effective date of the act adding this division to the extent the filing would satisfy the requirements for perfection under the act adding this division. (c) The taking of an action before the effective date of the act adding this division is sufficient for the enforceability of a security interest on the effective date of the act adding this division if the action would satisfy the requirements for enforceability under the act adding this division.

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