| This section deals with security interests that are |
enforceable but unperfected (i.e., subordinate to the rights of a |
person who becomes a lien creditor) under former Article 9 or |
other applicable law immediately before this Article takes |
effect. These security interests remain enforceable for one year |
after the effective date, and thereafter if the appropriate steps |
for attachment under this Article are taken before the one-year |
period expires. (This section's treatment of enforceability is |
the same as that of Section 9-703 [Maine cite section 9-1703].) |
The security interest becomes a perfected security interest on |
the effective date if, at that time, the security interest |
satisfies the requirements for perfection under this Article. If |
the security interest does not satisfy the requirements for |
perfection until sometime thereafter, it becomes a perfected |
security interest at that later time. |