The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
47-9704 - Security interest unperfected before effective date
47-9704. Security interest unperfected before effective date
A security interest that is enforceable immediately before July 1, 2001 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 for one year after July 1, 2001;
2. Remains enforceable thereafter if the security interest becomes enforceable under section 47-9203 on July 1, 2001 or within one year thereafter; and
3. Becomes perfected:
(a) Without further action, on July 1, 2001 if the applicable requirements for perfection under this chapter, as added in 1999, 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.