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554.9303 When security interest is perfected---continuity of perfection.

1. A security interest is perfected when it has attached and when all of the applicable steps required for perfection have been taken. Such steps are specified in sections 554.9302, 554.9304, 554.9305 and 554.9306. If such steps are taken before the security interest attaches, it is perfected at the time when it attaches.

2. If a security interest is originally perfected in any way permitted under this Article and is subsequently perfected in some other way under this Article, without an intermediate period when it was unperfected, the security interest shall be deemed to be perfected continuously for the purposes of this Article.

Section History: Early form

[C24, 27, 31, 35, 39, § 10023; C46, 50, 54, § 556.12; C58, 62, § 539.8, 556.12; C66, 71, 73, 75, 77, 79, 81, § 554.9303]

Internal References

Referred to in § 15E.91, 16.26, 16A.9, 554.13307


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