679.704 Security interest unperfected before effective date.—A security interest that is enforceable immediately before this act takes effect but that would be subordinate to the rights of a person who becomes a lien creditor at that time:
(1) Remains an enforceable security interest for 1 year after this act takes effect;
(2) Remains enforceable thereafter if the security interest becomes enforceable under former s. 679.203 when this act takes effect or within 1 year thereafter; and
(3) Becomes perfected:
(a) Without further action when this act takes effect if the applicable requirements for perfection under this act 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.
History.—s. 8, ch. 2001-198; s. 102, ch. 2003-1.