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Session Laws, 1999
Volume 796, Page 2077   View pdf image
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(2) THE EXPIRATION OF FOUR MONTHS AFTER A CHANGE OF THE
DEBTOR'S LOCATION TO ANOTHER JURISDICTION;

(3) THE EXPIRATION OF ONE YEAR AFTER A TRANSFER OF COLLATERAL
TO A PERSON THAT THEREBY BECOMES A DEBTOR AND IS LOCATED FN ANOTHER
JURISDICTION; OR

(4) THE EXPIRATION OF ONE YEAR AFTER A NEW DEBTOR LOCATED IN
ANOTHER JURISDICTION BECOMES BOUND UNDER § 9-203(D).

(B) IF A SECURITY INTEREST DESCRIBED IN SUBSECTION (A) BECOMES
PERFECTED UNDER THE LAW OF THE OTHER JURISDICTION BEFORE THE EARLIEST
TIME OR EVENT DESCRIBED IN THAT SUBSECTION, IT REMAINS PERFECTED
THEREAFTER IF THE SECURITY INTEREST DOES NOT BECOME PERFECTED UNDER
THE LAW OF THE OTHER JURISDICTION BEFORE THE EARLIEST TIME OR EVENT, IT
BECOMES UNPERFECTED AND IS DEEMED NEVER TO HAVE BEEN PERFECTED AS
AGAINST A PURCHASER OF THE COLLATERAL FOR VALUE.

(C) A POSSESSORY SECURITY INTEREST IN COLLATERAL, OTHER THAN GOODS
COVERED BY A CERTIFICATE OF TITLE AND AS-EXTRACTED COLLATERAL
CONSISTING OF GOODS, REMAINS CONTINUOUSLY PERFECTED IF:

(1) THE COLLATERAL IS LOCATED IN ONE JURISDICTION AND SUBJECT
TO A SECURITY INTEREST PERFECTED UNDER THE LAW OF THAT JURISDICTION;

(2) THEREAFTER THE COLLATERAL IS BROUGHT INTO ANOTHER
JURISDICTION; AND

(3) UPON ENTRY INTO THE OTHER JURISDICTION, THE SECURITY
INTEREST IS PERFECTED UNDER THE LAW OF THE OTHER JURISDICTION.

(D) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (E), A SECURITY
INTEREST IN GOODS COVERED BY A CERTIFICATE OF TITLE WHICH IS PERFECTED BY
ANY METHOD UNDER THE LAW OF ANOTHER JURISDICTION WHEN THE GOODS
BECOME COVERED BY A CERTIFICATE OF TITLE FROM THIS STATE REMAINS
PERFECTED UNTIL THE SECURITY INTEREST WOULD HAVE BECOME UNPERFECTED
UNDER THE LAW OF THE OTHER JURISDICTION HAD THE GOODS NOT BECOME SO
COVERED.

(E) A SECURITY INTEREST DESCRIBED IN SUBSECTION (D) BECOMES
UNPERFECTED AS AGAINST A PURCHASER OF THE GOODS FOR VALUE AND IS
DEEMED NEVER TO HAVE BEEN PERFECTED AS AGAINST A PURCHASER OF THE
GOODS FOR VALUE IF THE APPLICABLE REQUIREMENTS FOR PERFECTION UNDER §
9-311(B) OR § 9-313 ARE NOT SATISFIED BEFORE THE EARLIER OF:

(1) THE TIME THE SECURITY INTEREST WOULD HAVE BECOME
UNPERFECTED UNDER THE LAW OF THE OTHER JURISDICTION HAD THE GOODS NOT
BECOME COVERED BY A CERTIFICATE OF TITLE FROM THIS STATE; OR

(2) THE EXPIRATION OF FOUR MONTHS AFTER THE GOODS HAD
BECOME SO COVERED.

 

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Session Laws, 1999
Volume 796, Page 2077   View pdf image
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