<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="9-704" title_number="9" title_name="Secured Transactions" subtitle_number="7" subtitle_name="Transition">
  <text>A security interest that is enforceable immediately before this title takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:</text>
  <level label="1">
    <text>Remains an enforceable security interest for one year after this title takes effect;</text>
  </level>
  <level label="2">
    <text>Remains enforceable thereafter if the security interest becomes enforceable under § 9-203 when this title takes effect or within one year thereafter; and</text>
  </level>
  <level label="3">
    <text>Becomes perfected:</text>
    <level label="A">
      <text>Without further action, when this title takes effect if the applicable requirements for perfection under this title are satisfied before or at that time; or</text>
    </level>
    <level label="B">
      <text>When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.</text>
    </level>
  </level>
</section>
