12A:9-704. Security Interest Unperfected Before Effective Date.
   A security interest that is enforceable immediately before this chapter takes effect but which 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 this chapter takes effect;

   (2)   remains enforceable thereafter if the security interest becomes enforceable under 12A:9-203 when this chapter takes effect or within one year thereafter; and

   (3)   becomes perfected:

   (A)   without further action, when this chapter takes effect if the applicable requirements for perfection under this chapter 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.

   L.2001, c.117, s.1; amended 2001, c.386, s.121.