Tex. Business & Commerce Code § 9.704
This is the official text of Tex. Business & Commerce Code § 9.704, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 9.704. SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.
Official statutory text
A security interest that is enforceable immediately before the revision takes effect but that would be subordinate to the rights of a person that becomes a lien creditor at that time:
(1) remains an enforceable security interest until July 1, 2002;
(2) remains enforceable after June 30, 2002, if the security interest becomes enforceable under Section 9.203, as revised, before July 1, 2002; and
(3) becomes perfected:
(A) without further action, when the revision takes effect, if the applicable requirements for perfection under this chapter, as revised, are satisfied before or at that time; or
(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after the revision takes effect.
(1) remains an enforceable security interest until July 1, 2002;
(2) remains enforceable after June 30, 2002, if the security interest becomes enforceable under Section 9.203, as revised, before July 1, 2002; and
(3) becomes perfected:
(A) without further action, when the revision takes effect, if the applicable requirements for perfection under this chapter, as revised, are satisfied before or at that time; or
(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after the revision takes effect.
Status: in_force · Read it on the official government site
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