(a) Pre-effective-date action; attachment and perfection before adjustment date. If action, other than the filing of a financing statement, is taken before January 1, 2024, and the action would have resulted in perfection of the security interest had the security interest become enforceable before January 1, 2024, the action is effective to perfect a security interest that attaches under the amendatory act before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under the amendatory act before the adjustment date. (b) Pre-effective-date filing. The filing of a financing statement before January 1, 2024, is effective to perfect a security interest on January 1, 2024, to the extent the filing would satisfy the requirements for perfection under the amendatory act. (c) Pre-effective-date enforceability action. The taking of an action before January 1, 2024, is sufficient for the enforceability of a security interest on January 1, 2024, if the action would satisfy the requirements for enforceability under the e taking of an action before January 1, 2024, is sufficient for the enforceability of a security interest on January 1, 2024, if the action would satisfy the requirements for enforceability under the amendatory act. History of Section.P.L. 2024, ch. 65, § 12, effective June 10, 2024; P.L. 2024, ch. 66, § 12, effective June 10, 2024.
Rhode Island Legal Code