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Can you summarize MNST 336.9-803?
UNIFORM COMMERCIAL CODE > SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE.
Short Summary
This legal document pertains to the perfection of security interests under article 9 of the Uniform Commercial Code. It specifies the requirements for continuing perfection of security interests before and after the effective date of Laws 2011, chapter 31. If a security interest is already perfected before the effective date, it remains perfected under the amended article 9 without further action. However, if the perfection requirements are not satisfied before the effective date, the security interest will only remain perfected if the applicable requirements are met within one year after the effective date. This document does not mention any exemptions or penalties.
Whom does it apply to?
Creditors with security interests
What does it govern?
Perfection of security interests under article 9 of the Uniform Commercial Code
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota