The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 9-703)
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§ 9—703. Security interest perfected before effective date
(a) A security interest that is enforceable immediately before July 1, 2001, and would
have priority over the rights of a person that becomes a lien creditor at that time,
is a perfected security interest under this article as in effect on and after July
1, 2001, if, on July 1, 2001, the applicable requirements for enforceability and perfection
under this article as in effect on and after July 1, 2001, are satisfied without further
action.
(b) Except as otherwise provided in section 9—705 of this title, if, immediately before July 1, 2001, a security interest is enforceable and would
have priority over the rights of a person that becomes a lien creditor at that time,
but the applicable requirements for enforceability or perfection under the provisions
of this article as in effect on and after July 1, 2001, are not satisfied when such
provisions take effect, the security interest:
(1) is a perfected security interest until June 30, 2002;
(2) remains enforceable thereafter only if the security interest becomes enforceable under
section 9—203 of this title as in effect on and after July 1, 2001, on or before the date set forth in subdivision
(1) of this subsection; and
(3) remains perfected thereafter only if the applicable requirements for perfection under
this article as in effect on and after July 1, 2001, are satisfied before July 1,
2002. (Added 2001, No. 46, § 12.)