§ 28:9–804. Security interest unperfected before applicability date.

A security interest that is an unperfected security interest immediately before the applicability date becomes a perfected security interest:

(1) Without further action, on the applicability date, if the applicable requirements for perfection under Article 9 as amended by the 2012 Act are satisfied before or at that time; or

(2) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.