New Jersey § 12a:9-703
Full text of New Jersey New Jersey Statutes § 12a:9-703, with citation guidance and answers to common questions.
§ 12a:9-703.
(a) Continuing priority over lien creditor: perfection requirements satisfied. A security interest that is enforceable immediately before this chapter takes effect
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
chapter if, when this chapter takes effect, the applicable requirements for enforceability
and perfection under this chapter are satisfied without further action. (b) Continuing priority over lien creditor: perfection requirements not satisfied. Except as otherwise provided in 12A:9-705, if, immediately before this chapter takes
effect, 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 chapter are not satisfied when this chapter takes effect,
the security interest: (1) is a perfected security interest for one year after this chapter takes effect; (2) remains enforceable thereafter only if the security interest becomes enforceable
under 12A:9-203 before the year expires; and (3) remains perfected thereafter only if the applicable requirements for perfection
under this chapter are satisfied before the year expires.
Frequently Asked Questions About New Jersey § 12a:9-703
What does New Jersey Statutes § 12a:9-703 cover?
Section 12a:9-703 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:9-703?
A common citation format is "New Jersey Statutes § 12a:9-703" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:9-703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.