554.9704  Security interest unperfected before effective date.
  A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time:
  1.  remains an enforceable security interest for one year after July 1, 2001;
  2.  remains enforceable thereafter if the security interest becomes enforceable under section 554.9203 on July 1, 2001, or within one year thereafter; and
  3.  becomes perfected:
  a.  without further action, on July 1, 2001, if the applicable requirements for perfection under this Act* are satisfied before or at that time; or
  b.  when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
2000 Acts, ch 1149, §130, 187
*2000 Acts, ch 1149