Vermont § 316 - § 9—316.

§ 316. § 9—316.

• Effect of change in governing law (a) A security interest perfected pursuant to the law of the jurisdiction designated in
  subdivision 9-301(1) or in subsection 9-305(c), 9—306A(d), or 9—306B(b) of this title
  remains perfected until the earliest of: (1) the time perfection would have ceased under the law of that jurisdiction; (2) the expiration of four months after a change of the debtor’s location to another jurisdiction; (3) the expiration of one year after a transfer of collateral to a person that thereby
  becomes a debtor and is located in another jurisdiction; or (4) the expiration of one year after a new debtor located in another jurisdiction becomes
  bound under subsection 9—203(d) of this title. (b) If a security interest described in subsection (a) of this section becomes perfected
  under the law of the other jurisdiction before the earliest time or event described
  in that subsection, it remains perfected thereafter. If the security interest does
  not become perfected under the law of the other jurisdiction before the earliest time
  or event, it becomes unperfected and is deemed never to have been perfected as against
  a purchaser of the collateral for value. (c) A possessory security interest in collateral, other than goods covered by a certificate
  of title and as-extracted collateral consisting of goods, remains continuously perfected
  if: (1) the collateral is located in one jurisdiction and subject to a security interest perfected
  under the law of that jurisdiction; (2) thereafter the collateral is brought into another jurisdiction; and (3) upon entry into the other jurisdiction, the security interest is perfected under the
  law of the other jurisdiction. (d) Except as otherwise provided in subsection (e) of this section, a security interest
  in goods covered by a certificate of title which is perfected by any method under
  the law of another jurisdiction when the goods become covered by a certificate of
  title from this state remains perfected until the security interest would have become
  unperfected under the law of the other jurisdiction had the goods not become so covered. (e) A security interest described in subsection (d) of this section becomes unperfected
  as against a purchaser of the goods for value and is deemed never to have been perfected
  as against a purchaser of the goods for value if the applicable requirements for perfection
  under subsection 9—311(b) or section 9—313 of this title are not satisfied before the earlier of: (1) the time the security interest would have become unperfected under the law of the
  other jurisdiction had the goods not become covered by a certificate of title from
  this State; or (2) the expiration of four months after the goods had become so covered. (f) A security interest in chattel paper, controllable accounts, controllable electronic
  records, controllable payment intangibles, deposit accounts, letter-of-credit rights,
  or investment property which is perfected under the law of the chattel paper’s jurisdiction,
  the controllable electronic record’s jurisdiction, the bank’s jurisdiction, the issuer’s
  jurisdiction, a nominated person’s jurisdiction, the securities intermediary’s jurisdiction,
  or the commodity intermediary’s jurisdiction, as applicable, remains perfected until
  the earlier of: (1) the time the security interest would have become unperfected under the law of that
  jurisdiction; or (2) the expiration of four months after a change of the applicable jurisdiction to another
  jurisdiction. (g) If a security interest described in subsection (f) of this section becomes perfected
  under the law of the other jurisdiction before the earlier of the time or the end
  of the period described in that subsection, it remains perfected thereafter. If the
  security interest does not become perfected under the law of the other jurisdiction
  before the earlier of that time or the end of that period, it becomes unperfected
  and is deemed never to have been perfected as against a purchaser of the collateral
  for value. (h) The following rules apply to collateral to which a security interest attaches within
  four months after the debtor changes its location to another jurisdiction: (1) A financing statement filed before the change pursuant to the law of the jurisdiction
  designated in subsection 9—301(1) or 9—305(c) of this title is effective to perfect a security interest in the collateral if the financing statement
  would have been effective to perfect a security interest in the collateral had the
  debtor not changed its location. (2) If a security interest perfected by a financing statement that is effective under
  subdivision (1) of this subsection becomes perfected under the law of the other jurisdiction
  before the earlier of the time the financing statement would have become ineffective
  under the law of the jurisdiction designated in subsection 9—301(1) or 9—305(c) of this title or the expiration of the four-month period, it remains perfected thereafter. If the
  security interest does not become perfected under the law of the other jurisdiction
  before the earlier time or event, it becomes unperfected and is deemed never to have
  been perfected as against a purchaser of the collateral for value. (i) If a financing statement naming an original debtor is filed pursuant to the law of
  the jurisdiction designated in subsection 9—301(1) or 9—305(c) of this title and the new debtor is located in another jurisdiction, the following rules apply: (1) The financing statement is effective to perfect a security interest in collateral
  acquired by the new debtor before, and within four months after, the new debtor becomes
  bound under subsection 9—203(d) of this title if the financing statement would have been effective to perfect a security interest
  in the collateral had the collateral been acquired by the original debtor. (2) A security interest perfected by the financing statement, which becomes perfected
  under the law of the other jurisdiction before the earlier of the time the financing
  statement would have become ineffective under the law of the jurisdiction designated
  in subsection 9—301(1) or 9—305(c) of this title or the expiration of the four-month period, remains perfected thereafter. A security
  interest perfected by the financing statement, which does not become perfected under
  the law of the other jurisdiction before the earlier time or event, becomes unperfected
  and is deemed never to have been perfected as against a purchaser of the collateral
  for value. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2013, No. 157 (Adj. Sess.), § 1; 2025, No. 17, § 9, eff. July 1, 2025.)