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HomeCommercial CodeDiv. 17Ch. 3§ 17303 Unperfected Security Interests

§ 17303 Unperfected Security Interests

Commercial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 17303 Unperfected Security Interests

Key Takeaways

  • •If you had a valid security interest (like a loan tied to property) before January 1, 2024, but didn’t finish all the paperwork to make it official, it’s still valid for a little while.
  • •If you fix the paperwork by the adjustment date, the security interest stays valid.
  • •If you had everything ready by January 1, 2024, your security interest becomes fully official without extra steps.
  • •If you didn’t have everything ready by January 1, 2024, it becomes official once you finish the paperwork.

Example

You took a loan using your car as collateral in 2023, but the bank didn’t file the right papers to make it official.

Even though the bank didn’t finish the paperwork by January 1, 2024, your loan is still valid for a little while. If the bank files the right papers by the adjustment date, the loan stays valid. If they had everything ready by January 1, 2024, it’s official right away.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 17303 Unperfected Security Interests

A security interest that is enforceable immediately before the effective date of the act adding this division but is unperfected at that time: (a) remains an enforceable security interest until the adjustment date; (b) remains enforceable thereafter if the security interest becomes enforceable under Section 9203, as amended by the act adding this division, on the effective date of the act adding this division or before the adjustment date; and (c) becomes perfected: (1) without further action, on the effective date of the act adding this division if the requirements for perfection under the act adding this division are satisfied before or at that time; or (2) when the requirements for perfection are satisfied if the requirements are satisfied after that time. (Added by Stats. 2023, Ch. 210, Sec. 91. (SB 95) Effective January 1, 2024.)

Last verified: January 23, 2026

Key Terms

security interestenforceableunperfectedadjustment dateperfectioneffective date

Related Statutes

  • § 17302 Continued Perfection Transition
  • § 17304 Transitional Security Interest Perfection
  • § 9303 Certificate Of Title Goods
  • § 9304 Bank Deposit Account Security
  • § 9306 Letter Of Credit Security Interests

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Commercial Code. Section 17303.
View Official Source