| | | unperfected one year after this Article takes effect unless the | | security interest becomes a perfected security interest under | | this Article before the expiration of that period. |
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| | | (2)__The filing of a financing statement before this Article | | takes effect is effective to perfect a security interest to the | | extent the filing would satisfy the applicable requirements for | | perfection under this Article. |
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| | | (3)__This Article does not render ineffective an effective | | financing statement that, before this Article takes effect, is | | filed and satisfies the applicable requirements for perfection | | under the law of the jurisdiction governing perfection as | | provided in former section 9-103.__However, except as otherwise | | provided in subsections (4) and (5) and section 9-1706, the | | financing statement ceases to be effective at the earlier of: |
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| | | (a)__The time the financing statement would have ceased to | | be effective under the law of the jurisdiction in which it | | is filed; or |
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| | | (4)__The filing of a continuation statement after this Article | | takes effect does not continue the effectiveness of the financing | | statement filed before this Article takes effect.__However, upon | | the timely filing of a continuation statement after this Article | | takes effect and in accordance with the law of the jurisdiction | | governing perfection as provided in part 3, the effectiveness of | | a financing statement filed in the same office in that | | jurisdiction before this Article takes effect continues for the | | period provided by the law of that jurisdiction. |
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| | | (5)__Subsection (3), paragraph (b) applies to a financing | | statement that, before this Article takes effect, is filed | | against a transmitting utility and satisfies the applicable | | requirements for perfection under the law of the jurisdiction | | governing perfection as provided in former section 9-103 only to | | the extent that Part 3 provides that the law of a jurisdiction | | other than jurisdiction in which the financing statement is filed | | governs perfection of a security interest in collateral covered | | by the financing statement. |
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| | | (6)__A financing statement that includes a financing statement | | filed before this Article takes effect and a continuation | | statement filed after this Article takes effect is effective only | | to the extent that it satisfies the requirements of part 5 for an | | initial financing statement. |
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