Tribal Law - Turtle Mountain Band of Chippewa Indians of North Dakota; National Indian Law Library, Native American Rights Fund

Turtle Mountain Band of Chippewa Indians of North Dakota - Tribal Law

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Turtle Mountain Band of Chippewa Indians Tribal Code.

24.48.030 Security Interest Unperfected Before Effective Date

A security interest that is enforceable immediately before [the effective date of Chapters 24.42 through 24.48], but which would be subordinate to the rights of a person that becomes a lien creditor at that time:

(a) Remains an enforceable security interest until [the effective date of Chapters 24.42 through 24.48];

(b) Remains enforceable thereafter if the security interest becomes enforceable under Section 24.43.030 on [the effective date of Chapters 24.42 through 24.48], or within one year thereafter; and

(1) Without further action, on the effective date of Chapters 24.42 through 24.48, if the applicable requirements for perfection under Chapters 24.42 through 24.48 are satisfied before or at that time; or

(2) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.