California · Commercial Code

COM §9704: All of the following rules apply with respect to a security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien c

What this law says, in plain English

This statute addresses the legal status of security interests that were enforceable before July 1, 2001, and how they are treated when another person's lien rights arise.

Read the full statutory text

All of the following rules apply with respect to a security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) It remains an enforceable security interest until July 1, 2002. (2) It remains enforceable thereafter if the security interest becomes enforceable under Section 9203 on July 1, 2001, or on July 1, 2002. (3) It becomes perfected in either of the following ways: (A) Without further action, on July 1, 2001, if the applicable requirements for perfection under this division are satisfied on or before that time. (B) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.