A security interest that is enforceable immediately before January 1, 2002, 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 January 1, 2002;(2) remains enforceable thereafter if the security interest becomes enforceable under Section 7-9A-203 on January 1, 2002, or within one year thereafter; and(3) becomes perfected:(A) without further action, on January 1, 2002, if the applicable requirements for perfection under this article 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.(Act 2001-481, p. 647, §1.)
Alabama Legal Code