{"data":{"id":"us-nc/n.c.-gen.-stat.-25-9-703","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-9-703","heading":"Security interest perfected before effective date.","body":"(a)\tContinuing priority over lien creditor: perfection requirements satisfied. - 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 act if, on July 1, 2001, the applicable requirements for enforceability and perfection under this act are satisfied without further action.\n(b)\tContinuing priority over lien creditor: perfection requirements not satisfied. - Except as otherwise provided in G.S. 25-9-705, 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 this act are not satisfied on July 1, 2001, the security interest:\n(1)\tIs a perfected security interest for one year after July 1, 2001;\n(2)\tRemains enforceable thereafter only if the security interest becomes enforceable under G.S. 25-9-203 before the year expires; and\n(3)\tRemains perfected thereafter only if the applicable requirements for perfection under this act are satisfied before the year expires. (2000-169, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 9. Secured Transactions.","Part 7. Transition."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-703.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"b24c016649de794dd40d6e57a5eada71c5e76542541a1654993a3208e5e3345a","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-9-702","next":"us-nc/n.c.-gen.-stat.-25-9-704"},"notice":"GroundRules: Original legal text. Not legal advice."}